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Short Term Securities 

With the important feature of each issue 
arranged for convenient reference 



Compiled and Issued 

by the 

Bond Department 

of the 

Guaranty Trust Company of New York 

140 Broadway 
33 Lombard Street Fifth Avenue & 43d Street 

London, E. C. New York 



Third Edition 



New York 

Privately Printed 

August, 1913 






Copyright M3 

by 

Guaranty Trust Co. of New York 



[iil 

354610 



Contents 



Preface v 

Abbreviations Used xiii 

Governmental and State Notes 1 

Railway " 3 

Public Service and Utility " 27 

Industrial " 53 

Chronological Index of Maturities 83 



[iii] 



Preface 



Prior to 1907, corporate financing by means of short 
term notes, while a known and existing form of finance, had 
not been a considerable factor in the investment market. At 
that time, however, and in 1908, many corporations found 
that, owing to the disturbed conditions in the money market, 
it was not possible to dispose of long term bonds, and that 
financing by means of short term securities presented the 
only means of meeting their immediate needs. It is stated 
that $187,000,000 of such securities were brought out in 1908; 
and, the disturbance in the money market having from 
influences of one kind or another continued to keep the 
interest rate high, and borrowers consequently having been 
unable advantageously to place long term securities, this 
amount had grown in 1912 to $320,000,000. That this condi- 
tion is still existent is indicated by the fact that in the first 
six months of 1913 new issues amounted approximately to 
$450,000,000. 

If the issuance of short term securities is caused by 
conditions unfavorable to the borrower, it is the purchaser of 
such securities who reaps the benefit, and investors generally 
are coming more and more to regard a conservatively chosen 
short term investment with favor, and to consider that the 
trouble incident to investment and reinvestment is more than 
offset by its advantages. Securities of this class can generally 
be acquired at a comparatively high income yield, and, given 
the same general conditions of security and form as a long 
term issue, are subject to less range of fluctuation in price 
and are apt to have a closer and quicker market, owing to the 
comparatively short time in which they become due. 

Lv] 



The same care, however, should be exercised in the 
purchase of a short term security as in the selection of any 
other form of investment, and the consideration of some of 
the principles which determine the desirability of an issue 
may be of interest. Aside from profitableness, which, 
dependent upon the purchase price, necessarily is a change- 
able factor, and, in the case of short term notes, generally 
fairly closely related to the current time money market, four 
main factors enter into consideration, namely — safety of 
principal, certainty of income, ability to refinance and 
marketability. Short term securities may be divided into 
two kinds — those not specifically secured and resting on the 
general credit of the maker, and those specifically secured by 
the pledge of certain property, and the activities of the 
obligors may be loosely classed as governmental, railway, 
public service or utility and industrial. 

The obligations of governments are more generally either 
not secured, or secured by the pledge of the application of 
certain revenues, such as customs receipts; and political 
and economic questions, as well as the credit of the obligor 
government, its financial condition, its taxing ability and the 
income resultant therefrom, the amount of said income 
available for interest upon the issue in question in relation 
to other funded indebtedness, are special considerations to be 
taken up, as well as general considerations which will be 
discussed later. It must be remembered in connection with 
governmental obligations that in case of default there is no 
legal remedy as against a sovereign power, and its obligations 
rest entirely upon its credit 

In the case of railroads, whose finance is more highly 
developed and complex than corporations in other lines of 
activity, short term notes, whether secured or unsecured, 

[vij 



are invariably preceded to a greater or less extent by 
mortgage liens upon the property. The questions then arise 
as to whether these prior liens are or are not excessive for a 
road of the character of its traffic and territory, whether the 
physical condition of the road, as indicated by its annual 
appropriations for maintenance, and by the item of hire of 
equipment is good, and whether the road shows generally an 
increasing or decreasing business and profits. 

Public service or utility corporations have not as yet 
developed as complex finance as railroads, but, owing to the 
large amount of consolidation which has in recent years been 
effected in this class of corporations, the distinction between 
operating companies and holding companies and the inter- 
relation of various companies should be borne in mind. In 
examining a note issue of a holding company, the strength of 
the position of the company in regard to its source of income, 
i. e., its control of subsidiary companies, whether through 
ownership of stock with no prior securities outstanding, 
through ownership of all or a majority of each class of 
securities of the subsidiary company, or through an equity of 
stock control with senior securities outstanding should be 
carefully considered. And, in addition, in the latter case the 
strength of the equity as indicated by the percentage of sur- 
plus net income applicable — after the deduction of charges 
for interest on prior securities and an allowance for deprecia- 
tion — to dividends on the stock by which control is held, as 
well as the possibility that the subsidiary companies may, by 
the issuance of further securities having a prior lien, 
materially change the equity of the holding company and, 
consequently, the security of the note holder. In the case of 
notes secured by collateral these considerations become 
limited to the companies whose securities are pledged, and 
in the case of operating companies where the obligation is 

[vii] 



nearer to physical income-producing property, are practically 
non-existent The nature of the territory, the population 
served, and the conditions of franchises, as well as the 
amount of prior obligations, the tendency of gross earnings 
and net income and the margin of safety after fixed charges 
then become the indicative considerations. 

In the case of industrial obligations, the nature of their 
commercial operations are so diverse, the liability to fluctua- 
tion in earnings so varied in degree, and so largely dependent 
upon management, that any general conclusions in regard to 
them as a class are practically impossible. The finances of 
this class of corporations are, however, much less complex 
than those of railroads or public utility or service corpora- 
tions, there being frequently no other, or only one issue of 
funded indebtedness ahead of a note issue. The assets of an 
industrial corporation, while to a certain extent invested in 
real property, as the land on which a plant is situated, are 
more largely personal, and the value of the enterprise as a 
going concern, its average earnings, the degree of stability to 
be expected from the character of business engaged in, and 
of confidence in the ability and integrity of the management, 
are about the only special indications of weight. 

What, then, bearing in mind the inherent differences of 
railroad, public service or utility, and industrial corporations, 
and that industrials are probably most affected in their earn- 
ings by general conditions, the railroads less so, and the service 
and utility corporations least of all, are, broadly speaking, the 
average considerations by which the factors of ability to 
refinance, safety of principal and certainty of income may be 
determined ? These factors, or in other words solvency and 
income producing power, are very closely related, for the 
corporation showing satisfactory and increasing income 
returns will have no difficulty in refinancing, and while the 

[viii] 



apparent security is the credit of the company, supplemented 
by the pledge of physical property or securities, as the case 
may be, the actual security is very largely its income- 
producing ability. 

With an unsecured note, which rests entirely upon the 
credit of the corporation, the position of the issue with respect 
to outstanding prior obligations, the apparent equity in the 
property left to the notes, and the market equity of junior 
securities following the notes will show the strength or 
weakness of the issue in respect to the company. While too 
much reliance cannot be placed on the amount of the market 
equity, it is needless to say that relatively the less the 
amount of prior obligations and the greater that of the 
market equity following them, the greater the strength of 
the notes. An examination of its income account and 
balance sheet for a period of several years — five are suffi- 
cient to give an indication — will disclose the trend of the 
company toward or away from increasing prosperity. By 
deducting all prior fixed charges from net income the amount 
of income applicable to interest charges on the issue under 
consideration is shown. And the ratio this amount bears to 
the amount required for interest indicates the margin of 
safety primarily for income and secondarily for the principal 
of such issue. No generalization of the ratio sufficient for 
safety can be made, as each case has to be decided on its 
merits, but where a surplus of one and one-half times the 
interest requirements may be sufficient margin with a 
company of stable earning power, or one deriving its income 
from operations, a ratio of four or five times may be none too 
much with a company whose earnings are from the nature 
of its business subject to severe fluctuations, or whose income 
is derived from dividends of companies whose ability to 
maintain them is not thoroughly established. 

[ix] 



Secured notes may be, for the purpose of examination, 
considered under two heads — those secured by the deposit of 
prior obligations of the same company and those secured by 
the deposit of securities of one or more other companies. In 
the former case, the investigation — and the security — remains 
entirely within the one company, and besides a scrutiny of 
the income account as with an unsecured note, the proportion 
the amount deposited bears to the total of the particular 
issue outstanding, or the degree of control vested in the notes 
by its deposit, and the position of the security in respect to 
underlying liens, or the equity it would represent if the 
company encountered financial difficulties must be con- 
sidered, as well as its present market value. With notes 
secured by deposit of securities of some other company or 
companies, in addition to the usual consideration of the 
position of the notes, and of the income account, each item 
of deposited collateral should be separately considered from 
the standpoint of its position in respect to other securities of 
the same company, and the equity and amount of control it 
represents. Where a statement of earnings is available, 
the trend of each company and the amount of income 
applicable to the security in question, or where such state- 
ment is not available, the degree of importance of its property 
to the proprietary company, should be considered as well as 
the nearest determinable market value. 

From the preceding, an effort to form a conclusion in 
respect to an issue of notes may appear difficult and complex, 
but in reality the considerations applying to any one issue 
are few, and most of the information needed to form some 
conclusion about any particular issue may be obtained from 
the manuals, from market quotations, or from the trustee of 
the issue; and the trustee, who stands officially in the place of 
the noteholders as a whole, is the natural source of informa- 

r*] 



tion. An examination of the indenture or deed of trust under 
which the notes are issued will show the various covenants 
of the company, to maintain certain quick assets to create a 
sinking fund, to refrain from encumbering or pledging its 
property, or otherwise, as the case may be. In most cases, 
too, the bank or bond house bringing the issue out have 
gone into the matter very thoroughly, probably having an 
examination made by their own accountants and engineers, 
and the figures and statements of a reputable house can be 
relied on, for its reputation is behind an offering of a security 
to its investors. 

It may be noted that reference has been made to 
examination of income accounts for a period of years, and 
questions arise as to newly formed corporations, but properly 
speaking, the securities of unseasoned enterprises are not, 
save in exceptional cases, investments, but speculative 
prospects. 

On the following pages are set forth, arranged for con- 
venient reference, the details of most of the issues of notes 
having a maturity of ten years or less from their date, with a 
statement of the specific security, if any. An analysis of 
each issue would be, not only beyond the scope of this 
volume, but, being based on figures and conditions constantly 
changing, of only transitory value. To those who are inter- 
ested in a particular issue, we will be glad to furnish any 
additional information we may have upon our files or can 
obtain. 

While the statements contained herein have been taken 
from sources — original as far as possible — which we believe 
to be accurate, they are not guaranteed, and we should ap- 
preciate having errors or omissions brought to our attention. 

We wish, in conclusion, to express our appreciation of 
the courtesy received from trustees and others, while collect- 
ing the necessary information. 

[xi] 



Abbreviations 



Explanatory Note 



C.= Coupon. 

r.=Registerable as to principal only. 

R.=Full Registered. 

Int.=Coupon and Registered Interchangeable. 

ist= First Mortgage 

Ref.= Refunding Mortgage. 

Ext. = Extension Mortgage. 

Imp. = Improvement Mortgage. 

Deb. = Debenture. 

Coll.=Collateral. 

Tr. = Trust. 

Corp. = Corporation . 

Ser. = Series or Serial. 

s after numerals %, as 4's, 5's, etc. 

S/F.=Sinking Fund. 

C/S.= Capital Stock. 

Pref.= Preferred Stock. 

Com.— Common Stock. 

Cum. —Cumulative. 

Amounts of collateral is stated in par value unless otherwise 
noted. 



[xiii] 



Abbreviations 

Trustees 



Am. T. Bos. = American Trust Co., Boston, Mass. 

B.= Bankers Trust Co., N. Y. 
Ba. T. Bait. = Baltimore Trust Co., Baltimore, Md. 
B. S. D. &T. Bos. = Boston Safe Deposit & Trust Co., 
Boston, Mass. 
Bklyn. T. N. Y. -Brooklyn Trust Co., N. Y. 

C.= Central Trust Co., N. Y. 
C.-K.= Columbia-Knickerbocker Trust Co., N. Y. 
C. & C. Chi. = Continental & Commercial Trust & 
Savings Bank, Chicago, 111. 
Ci. S. &. T. Cleve.= Citizens Savings & Trust Co., Cleveland, O. 
Com. Bos. = Commonwealth Trust Co., Boston, Mass. 
Com. T. Jersey C.= Commercial Trust. Co., Jersey City, N. J. 
Com. T. Phil. = Commercial Trust Co., Philadelphia, Pa. 
Cont. T. Bait. = Continental Trust Co., Baltimore, Md. 

Day. S. & T. Day. 0.=Dayton Savings & Trust Co., Dayton, O. 

E. ^Equitable Trust Co. of N. Y. 
Eq. Phil. =Equitable Trust Co., Philadelphia, Pa. 
Em. = Empire Trust Co., N. Y. 

F.= Farmers Loan & Trust Co., N. Y. 
F. T. & S. Chi.=First Trust & Savings Bank, Chicago, 111. 
F. Nat. Cleve.=First National Bank, Cleveland, O. 
Fid. T. Buff. = Fidelity Trust Co., Buffalo, N. Y. 
Fid. T. Phil. = Fidelity Trust Co., Philadelphia, Pa. 

G.= Guaranty Trust Co. of N. Y. 
Gir. Phil.=Girard Trust Co. Philadelphia, Pa. 
G. T. & S. D. Phil = Guarantee Trust & Safe Deposit Co., 

Philadelphia, Pa. 
Gu. S. & T. Cleve.— Guardian Savings & Trust Co., 
Cleveland, O. 

[xiv] 



Har. T. & S. Chi. = Harris Trust & Savings Bank, Chicago, 111. 
Hib. B. &. T. N. 0.=Hibernia Bank & Trust Co., New 
Orleans, La. 

111. T. &. S. Chi. ^Illinois Trust & Savings Bank, Chicago, 111. 

Ind. T. Prov.= Industrial Trust Co., Providence, R. I. 

Int. T. Den. = International Trust Co., Denver, Col. 

L. T. & T. Phil.=Land Title & Trust Co., Philadelphia, Pa. 
L. T. I. &. T. N. Y.=Lawyers Title Insurance & Trust Co., 
N. Y. 
Los A. T. & S. Los An. = Los Angeles Trust & Savings Bank, 
Los Angeles, Cal. 

Met. = Metropolitan Trust Co., N. Y. 
Mer. U. T. Phil. = Merchants Union Trust Co., Phila., Pa. 
Mut. All. N. Y.= Mutual Alliance Trust Co., N. Y. 

N. Y. T.=New York Trust Co., N. Y. 
Nat. Mon.rr. National Trust Co. Montreal 
Nat. City N. Y.= National City Bank, N. Y. 

O. C. Bos.^Old Colony Trust Co., Boston, Mass. 

Pa. Co. I. L. & G. A., Phil. = Pennsylvania Co. for Insurances on Lives 

and Granting Annuities, Phila., Pa. 

R. E. T. I. & T. Phil.=Real Estate Title Insurance & Trust Co., 
Philadelphia, Pa. 

S. D. & T. Balt.=Safe Deposit & Trust Co., Baltimore, Md. 
St. St. T. Bos. = State Street Trust Co., Boston, Mass. 
St. L. U. T. St. Louis=St. Louis Union Trust Co., St. Louis, Mo. 
Sup. S. &T. Cleve.= Superior Savings & Trust Co., Cleveland, O, 

Un.= Union Trust Co., N. Y. 
U. S.= United States Trust Co., N. Y. 
U. S. M. &T.=Uuited States Mortgage & Trust Co., N.Y. 
Un. S. D. &T. Port. = Union Safe Deposit & Trust Co., 
Portland, Me. 

W. C. N. O. = Whitney-Central Trust & Savings Bank, 
New Orleans, La. 
Wins. Lan. N. Y.=Winslow, Lanier & Co., N. Y. 

[XV] 



Governmental and State 



Austrian Government 

Treasury Notes 



AVz c /o 



Dated : 1912 



Due: $12,500,000 1 July, 1914 
12,500,000 1 Jan., 1915 
Interest Due : Jan. & July 1 
Amount Authorized : $25,000,000 
" Outstanding : 25,000,000 
Trustee: Form: C. 1,000, 5,000 



Monetary Commission of Mexico 

Two-Year Notes A'/ 2 % 



Dated: 1 Sept., 1911 Due : 1 Sept., 1913 

Interest Due : Mar. & Sept. 1 
Amount Authorized: $10,000,000 
" Outstanding: 10,000,000 
Trustee: Form: C. 5,000, 10,000 



Republic of Santo Domingo 

Ten-Year Sinking Fund 

Treasury Gold Notes 6% 



Dated: 1 Jan., 1913 
Interest Due : Jan. 1 & July 1 
Amount Authorized : $1,500,000 
' ' Outstanding : 1 ,500,000 



Due: 1 Jan., 1919 



Trustee : 



Form: C. 1.000 



A direct credit obligation of the Austrian Govern- 
ment not specifically secured. The per capita debt 
in Austria is lower than in Germany, Italy or 
France. 



These notes are endorsed by the Banco Nacional de 
Mexico, are issued under the authority of the Sec- 
retary of the Treasury and Public Debt, and con- 
stitute an obligation of the United States of Mexico. 



A general credit obligation of the Dominican Republic. 
Specifically secured by the pledge of $30,000 monthly 
from the Customs Receipts, which, under the Con- 
vention of 25 July, 1907, are administered under 
the supervision of the U. S. Government. The 
State Department has approved the issuance of 
these notes. 

The $30,000 is to be paid monthly to the National City 
Bank and applied 1st to the payment of the S. A. 
interest and 2d to the retirement of the notes at 
par in the order of numerical sequence. 

Subject to redemption in numerical sequence at par 
and interest on any interest date. 



Governmental and State 



State of New York 

Notes 5 % 

Dated: 6-9 June, 1913 Due: 2 Feb., 1914 

Interest Due: 2 Feb., 1914 
Amount Authorized : $27,000,000 
" Outstanding: 27,000,000 
Trustee : Form : R. or Bearer Various 



State of Tennessee 

Temporary Loan Ref. Bonds 5% 

Dated: 1 July, 1913 Due: 1 July, 1914 

Interest Due: Jan. & July 1 
Amount Authorized : $9,220,000 
11 Outstanding: 9,220,000 
Trustee : Form : C 1000, 5,000. 10,000, R. 



United States of Mexico 

Ten-Year Treasury Notes 



Dated: 1 July, 1913 
Interest Due : Jan. & July 1 
Amount Authorized : $97,000,000 
" Outstanding: 29,100,000 
Trustee : Form : C. £20, £100 



6% 
Due: 1 July, 1923 



£200 



An obligation of the State of New York, issued under 
authority of Chapter 645 of the Laws of 1913. 

The proceeds of $19,000,000 are to be applied for canal 
improvements and the balance for highways. 

The amount of interest to be due on each note is 
stated thereon. 



A direct obligation of the State of Tennessee, issued 
under Act of the Legislature, passed 21 June, 1913. 
Legal for Savings Banks and Trust Funds in the 
State of New York. 



An obligation of the United States of Mexico, secured by 
a special assignment by the Government of 38% of 
the customs duties. In the event that in any year 
the 38% of Customs duties is less than 20% in excess 
of the interest charges, the Government will endeavor 
to pass an act increasing the said duties, the other 
62% being pledged to the loans of 1899 and 1910. 
Issued in Sterling, with the fixed rate of exchange of 
$4.85 per £ 
Fes. 25.25 " 
RM 20.45 " 
Gu. 12.10 " 
Mex. 9.75 " 
Subject to redemption on 1 July, 1916, or any interest 
date thereafter at par and interest on 3 months' 
notice. 



Railway 


Alabama, Tennessee & Northern Ry . Co. 


An obligation of the company, secured by deposit with 
the Trustee of: 
$3,663,000 Alabama Tennessee & Northern, 1st and 


Three-Year Secured Notes 6% 


Dated: 1 May, 1913 Due: I May, 1916 


Ref. 5s. 


Interest Due : May & Nov. 1 


Subject to redemption on the 1st day of any month at 


Amount Authorized : $2,500,000 


101 and interest. 


' ' Outstanding : 1 ,83 1 ,000 




Trustee: G. Form : C. r. 1,000 




Ann Arbor R. R. 


An obligation of the company, secured by deposit with 


Two- Year Notes 6% 


the Trustee of : 




$1,250,000 Ann Arbor R. R. Ref. and Ext. 5s 


Dated: 1 May, 1913 Due: 1 May, 1914 




Interest Due : May & Nov. 1 




Amount Authorized : $750,000 




' ' Outstanding : 750,000 




Trustee : Em. Form : C. r. 1 ,000 




Aroostook Construction Company 

Collateral Trust 5% 


An obligation of the company, secured by deposit with 
the Trustee of : 
$1,350,000 Bangor & Aroostook R. R. Co., Consol. 


Dated: 1 May, 1912 Due: 1 May, 1917 
Interest Due : May & Nov. 1 
Amount Authorized : $2,500,000 
1 ' Outstanding : 1 ,9 1 5,000 


Ref. 4s. 
2,000,000 Bangor & Aroostook R. R. Co., Cfs. 
175,000 Northern Telegraph Co. 
Subject to redemption prior to 1 May, 1915, at 101 and 
interest; after May 1, 1915, at par and interest, upon 


Trustee: O. C. Bos. Form: C. r. 1,000 


3 weeks' notice. 


Atchison, Topeka & Santa Fe Ry. Co. 

Serial Debentures A% 


An obligation of the company, not specifically secured, 
but the lines owned at the date of this issue can- 


not be placed under any new mortgage without in- 


Dated: 1 Feb.. 1902 


cluding this issue. 


Due: $2,500,000 Annually 1 Feb. 


Subject to redemption at 105% on three months' 


Last Intallment : 1 Feb., 1914 


notice. 


Interest Due : Feb. & Aug. 1 




Amount Authorized: $30,000,000 




" Outstanding: 2,500,000 




Trustee: G. Form: C. r. 1,000, R. 1,000, 5,000, 




10,000 





Railway 



Atchison, Topeka & Santa Fe Ry. Co. 

Convertible Gold 5 % 

Dated: 1 June, 1907 Due: 1 June, 1917 

Interest Due : June & Dec. 1 
Amount Authorized : $30,000,000 
" Outstanding: 8,829,000 
Trustee : G. Form : C. r. 1,000, R. 1,000, 5,000, 

10,000 

Atlanta, Birmingham & Atlantic 
R. R. Co. 

Receivers' Certificates 5% 



Dated: 1 July, 1912 Due: 1 July, 1913 

Interest Due : Jan. & July 1 
Amount Authorized : $5,000,000 
" Outstanding : 4,700,000 
Trustee: F. Form: C. 1,000 



Atlanta, Birmingham & Atlantic 

R. R. Co. 
Atlanta & Birmingham Construction 

Co. 

Joint Collateral Trust 5% 



Dated: May, 1910 



Due 



Extended to 
1 May, 1915 



Interest Due : May & Nov. I 
Amount Authorized : $8,000,000 
" Outstanding: 6,045,000 
Trustee : E. Form : C. r. 1,000, 5,000 



An obligation of the company, not specifically secured, 
but no new mortgage, except as additional security 
for existing issues, can be placed on the lines owned 
at the date of this issue without including this issue. 

Subject to redemption at 110% on 3 months' notice. 

The privilege of conversion into common stock of the 
company expired June 1, 1913. 



An obligation of the company, secured by an absolute 
first lien on 329 miles of main line, on terminal 
properties in Birmingham, Ala., and Atlanta, Ga., 
and a lien, subject to a prior lien of $4,090,000 on 
300 miles additional of main line, and, subject to 
equipment trusts amounting to approximately 
$1,100,000, on all the equipment of the company. 

These certificates were not paid at maturity. 



An obligation of the company, secured by deposit with 
the Trustee of : 

Birmingham & Atlantic R. R. 



$5,005,000 Atlantic, 

1st 5s. 
5,600,000 Atlantic, 
Pfd. 

17,000,000 Atlantic, 



Birmingham & Atlantic R. R. 

Birmingham & Atlantic R. R. 
Com. 

Brunswick Steamship Co., 1st 5s. 
1,000,000 " " " C/S 

4,000,000 Woodward Iron Co., C/S 
and the payment of the interest is guaranteed by 
the shareholders of the Construction Co. 
Subject to redemption at par and interest on any in- 
terest date on 30 days' notice. 



Railway 



Baltimore & Ohio R. R. 

One- Year Notes 5% 

Dated: 1 July, 1913 Due: 1 July, 1914 

Interest Due : Jan. & July 1 
Amount Authorized : $20,000,000 
11 Outstanding: 20,000,000 
Trustee : U. S. M. & T. Form : C. 1,000, 5,000 

Bingham & Garfield Ry. Co. 

1st Mortgage Convertible S/F 6% 



Due: 1 July, 1920 



Dated : 1 July, 1910 
Interest Due : Jan. & July 1 
Amount Authorized : $2,500,000 
" Outstanding: 2,163,000 
Trustee: G. Form: C. r. 500, 1,000 



Birmingham & Northwestern Co. 

Three-Year Collateral Trust 6% 



Due : I Mar., 1916 



Dated : 1 Mar., 1913 
Interest Due : Mar. & Sept. 
Amount Authorized : $450,000 
" Outstanding: 450,000 
Trustee : C. & C. Chi. Form ; C. r. 1,000 



Boston & Maine R. R. Co. 

One-Year Notes 



Dated: 3 Feb., 1913 
Interest : Feb. & Aug. 3 
Amount Authorized: $10,000,000 
Outstanding: 10,000,000 
Trustee : Form : C. 5,000 



Due: 3 Feb., 1914 



An obligation of the company, secured by deposit with 
the Trustee of : 

$29,000,000 Baltimore & Ohio Chicago Terminal 
R. R. Co. 1st 4s. 



An obligation of the company, secured by 1st mortgage 
on the property of the company, including the line 
of road from Bingham, Utah, to Garfield, connecting 
with the San Pedro, Iyos Angeles & Salt Lake R. R., 
25 miles, and 70 miles sidings and additional tracks. 

Guaranteed principal and interest by the Utah Copper Co. 

Convertible between 1 July, 1911, and 1 July, 1914, into 
Utah Copper Co. stock at $50 per share(par value $10). 

Sinking fund begins January 1913, to retire bonds at 
not exceeding 110% and interest. 

Subject to redemption after 1 July, 1913, on any interest 
date at 110% on 4 weeks' notice. 

An obligation of the company, secured by the deposit 

with the Trustee of : 

$800,000 Birmingham & Northwestern Ry. Co. 1st 5s, 
300,000 do Capital Stock, 

which are the entire outstanding capitalization of the 

Railway Co. 
Subject to redemption on and after 1 March, 1914, at 101 

and interest. 



An obligation of the company not specifically secured. 



Railway 



Boston & Maine R. R. 

One- Year Notes 6 7c 

Dated: 1 June, 1913 Due: 1 June, 1914 

Interest Due : June & Dec. 1 
Amount Authorized : $17,000,000 
' • Outstanding : 1 7,000,000 
Trustee: Form: C. 1,000,5,000 

Buffalo & Susquehanna R. R. Co. 

Receivers' Certificates 6% 



Dated: 1 June, 1913 
Interest Due : 1 Dec, 
Amount Authorized : 
" Outstanding: 



Due 
1913 

$500,000 
500,000 



1 Dt 



1913 



Trustee : 



Form : C. $1,000 or £1,000 



Canadian Northern Ry. Co. 

One- Year Secured Notes 



Due: 15 July, 1914 



Dated: 15 July, 1913 
Interest Due : Jan. & July 15 
Amount Authorized : $3,500,000 
Outstanding: 3,500,000 
Trustee: G. Form: C. 1,000 



Carolina, Clinchfield & Ohio Ry. Co. 

Five- Year Mortgage Notes 5?e 

Dated: 1 May, 1912 Due: 1 May, 1917 

Interest Due : May & Nov. 1 
Amount Authorized : $5,500,000 
M Outstanding : 5,500,000 
Trustee : Form : C. 1 ,000 



An obligation of the company not specifically secured. 



Issued by order of the Supreme Court of New York State 
and are a first lien on the property and earnings of 
the company prior to 1st mortgage bonds. 

Certificates may be issued in $ or £ without interest. 



An obligation of the company, secured by deposit with 
the Trustee of : 
£733,561 Canadian Northern Alberta Ry. Co. 50-year 

Zyi% Mtge. Deb. Stock. 
£293,837 Canadian Ontario Ry. Co. 50-year 3>£% 
Mtge. Deb. Stock. 

Both of which are guaranteed as to principal and interest 
by the Dominion Government of Canada. 

Subject to redemption 15 January, 1914, at 101 and in- 
terest on 30 days' notice. 

An obligation of the company, secured by a first lien on 
about 35 miles of road between Dante and Elkhorn, 
W. Va., to pay for the construction of which these 
notes were issued. 



Railway 



Carolina, Clinchfield & Ohio Ry. Co. 

Ten-Year Mortgage Notes 5 % 



Due: 1 July, 1919 



Dated : 1 July, 1909 
Interest Due : Jan. & July 1 
Amount Authorized: $5,000,000 
" Outstanding: 2,000,000 
Trustee: E. Form: C. r. 1,000 

Chesapeake & Ohio Ry. Co. 

Three- Year Secured Gold Notes 4>^ % 



Dated: 1 June, 1911 Due: 1 June, 1914 

Interest Due : June & Dec. 1 
Amount Authorized : $25,000,000 
11 Outstanding: 25,000,000 
Trustee: F. Form: C. 1,000 

Chicago & Eastern Illinois Ry. Co. 

One-Year Receivers' Certificates 6% 



Due: I July, 1914 



Dated : 1 July, 1913 
Interest Due : Jan. & July 1 
Amount Authorized : $4,000,000 
" Outstanding: 4,000,000 
Trustee : Form : C. 1 ,000 etc. 

Chicago, Milwaukee & St. Paul Ry.Co. 
Puget Sound & Willapa Harbor Ry. 

Five-Year Stock Trust Certificates 5 % 

Dated: 1 June, 1913 Due: 1 June, 1918 

Interest Due : June & Dec. 1 to registered holders of 

May & Nov. 20 
Amount Authorized : $3,000,000 
Outstanding : 3,000,000 
Trustee: U.S. Form: R. 100 



An obligation of the company, secured by a mortgage 
on 224 miles of road subject to a prior lien of 
$13,150,000 1st 5s on the entire mileage and $200,000 
Lick Creek and Lake Erie R. R. 1st 5s. 



An obligation of the company, secured by a deposit with 

the Trustee of : 

$28,586,000 Chesapeake & Ohio Ry. Co. 1st Lien and 

Imp. Mtge. 5s due 1930. 
Subject to redemption at par and interest. 



Issued by order of Court and have a lien on the property 
of the company prior to that of $17,000,000 refunding 
mtge. bonds and $5,000,000 floating indebtedness, 
on both of which interest is being paid. 



Certificates issued by the Trustee against the deposit 
with it of an equal amount (all) of the stock of the 
Puget Sound & Willapa Harbor Ry. Co.— which 
company has now no debt, and cannot create any 
while these certificates are outstanding. 

Guaranteed as to principal and interest by the Chicago, 
Milwaukee & St. Paul Ry. Co., which has under- 
taken to purchase the stock at par upon the maturity 
of these certificates. 

Subject to redemption as a whole on any interest date 
at 102)^ and interest on 30 days' notice. 



Rail 



way 



Chicago, Rock Island & Pacific Ry.Co. 

Collateral Trust Serial Notes 4% 



Dated : I May, 1902 

Due : $1,494,000 annually May 1, to 1 May, 1918 
Interest Due : May & Nov. I 
Amount Authorized : $23,883,000 

" Outstanding: 7,470,000 
Trustee: C. Form: C. r. 1,000 



Chicago & Western Indiana R. R. 

Three-Year Mortgage Notes 5% 



Dated: 2 Sept., 1912 Due: 1 Sept., 1915 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $10,000,000 
" Outstanding: 10,000,000 
Trustee: B. Form : C. 1,000, 5,000, 10,000 



Connecticut River R. R. Co. 

One- Year Notes 



5% 



Dated: 1 June, 1913 
Interest Due : June & Dec. 1 
Amount Authorized : $2,000,000 
Outstanding: 2,000,000 
Trustee: Form: C. 1,000 



Due: 1 June, 1914 



An obligation of the company, secured by deposit with 
the Trustee of : 

$6,000,000 par value Choctaw, Oklahoma & Gulf R.R. 
Pref. 
9,827,500 par value do Com. 

(acquired in 1902, at a cost of about $23,024,000). 
Subject to redemption as a whole at 101^ and interest 
on 60 days' notice. 



An obligation of the company, but not specifically 

secured. 
Guaranteed as to principal and interest under the terms 

of a 999 year lease of the following railroads : 

Chicago & Eastern Illinois R. R. Co. 

Wabash R. R. Co. 

Grand Trunk Western Ry. Co. 

Chicago & Erie R. R. Co. 

Chicago, Indianapolis & Iyouisville Ry. Co. 
Issued under the 1st and Ref. Mtge. of 1912, authorized 

amount $200,000,000. 
Subject to redemption, as a whole, at 102 *4 and interest 

upon 6 weeks' notice. 



An obligation of the company, not specifically secured 



Railway 



Cumberland Corporation 

Three-Year Convertible Coll. Tr. 5% 



Dated: 1 June, 1912 
Interest Due : June & Dec. 1 
Amount Authorized : $5,000,000 
" Outstanding: 5,000,000 
Trustee : N. Y. T. Form : C. r. 1,000 

Delaware & Hudson Co. 

Convertible Debentures 



Due: 1 June, 1915 



4% 



Dated : 15 June, 1906 Due : 15 June, 1916 

Interest Due : June & Dec. 15 
Amount Authorized : $14,000,000 
Outstanding: 13,973,000 
Trustee: Form: C.r. 1,000 R. 

Duluth, Rainy Lake & Winnipeg Ry. Co. 

Ten- Year 1st Mtge. Sinking Fund 5% 



Dated: 1 Jan., 1906 
Interest Due: Jan. & July 1 
Amount Authorized : $2,000,000 
" Outstanding: 2,000,000 
Trustee : 111. Tr. & S. Chi. Form : C. r 



Due: 1 Jan., 1916 



1,000 



Erie R. R. 

Collateral Trust Notes 



Dated: 8 Apr., 1911 
Interest Due: Apr. & Oct. 8 
A mount Authorized : $ 1 2,500,000 
' ' Outstanding : 1 2,500,000 
Trustee: B. Form: C. r. 1,000 



6% 
Due: 8 Apr., 1914 



An obligation of the company, secured by deposit with 

the Trustee of: 

$5,000,000 Carolina, Clinchfield & Ohio Ry. Pfd. 

25,000,000 " " " Com. 

Convertible at any time at par into Carolina, Clinchfield 

& Ohio Ry. Pref. 
Subject to redemption on any interest date at 101 and 

interest on 2 weeks' notice. 



An obligation of the company, not specifically secured. 
The conversion privilege, at the rate of $1,000 in bonds 
for $500 in stock expired 15 June, 1912. 



An obligation of the company, secured by a first lien on 
the property of the company, including 93 miles of 
road from Virginia, Minn., to International Falls. 
A like amount of Duluth, Winnipeg & Pacific Ry. 
1st Mtge. Deb. 4% stock, which is guaranteed by the 
Canadian Northern Ry. is reserved to retire this 
issue at maturity. 

Subject to redemption at 105 on any interest date. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$12,839,000 Erie R. R. 1st Cons. Mtge. Gen'l Lien 4s. 
985,000 " " Gen'l Mtge. Conv. Gold Bonds 

Series "B." 
336,000 Erie R. R. Pa. Coll. 4s. 
217,000 Chicago & West Ind. R. R. Co. Consol 4s. 
95,000 Mutual Terminal of Buffalo Notes. 
6,306,000 N. Y. Susq. & West. Pref. 
163,100 Lehigh & Hudson River R. R. C/S. 
145,700 Temple Iron Co. C/S. 



Railway 



Erie R. R. Co. 

Three-Year Collateral Trust Notes 5 % 



Dated: 2 Oct., 1911 Due: 1 Oct., 1914 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $4,550,000 
" Outstanding: 4,550,000 
Trustee: B. Form: C. r. 1,000 

Erie R. R. Co. 

Three-Year Collateral Notes 5 % 

Dated: 1 Apr., 1912 Due: 1 Apr., 1915 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $10,000,000 
' ' Outstanding : 1 0,000,000 
Trustee: B. Form: C r. 1,000 

Gulf & Ship Island R. R. 

General & Refunding Mortgage 6% 



Dated: 1 Feb., 1911 

Due: $200,000 Annually Apr. 1. 

Final Maturity 1917 
Interest Due: Apr. & Oct. 1 
Amount Authorized: $1,000,000 
" Outstanding: 800,000 
Trustee: Met. Form: C. r. 1,000 



Hocking Valley Ry. Co. 

Two-Year Notes 



Dated: 1 Nov., 1911 Due: 

Interest Due : May & Nov. 1 
Amount Authorized: $4,000,000 
" Outstanding: 4,000,000 
Trustee: E. Form: C. 1,000 



4^% 
1 Nov., 1913 



An obligation of the company, secured by deposit with 
the Trustee of : 

$4,000,000 Erie & Jersey R. R. Co. 1st 4s. 
3,000,000 Genesee River R. R. Co. 1st 4s. 



An obligation of the company, secured by deposit "with 
the Trustee of: 
$10,000,000 Erie R. R. Gen'l Mtge. Conv. 4s Ser."C". 

1,000,000 " " 1st Consol. Gen. Lien 4s. 

3,000,000 Erie & Jersey 1st Mtge. 4s. 

2,000,000 Genesee River R. R. 1st 4s. 



An obligation of the company, secured by mortgage lien 
on 307 miles of road subject to $16,000 1st 5s, and 
$3,984,000 1st and Ref. 5s. 

Subject to redemption on any interest day at 103% on 
90 days' notice. 



An obligation of the company, not specifically secured, 
but no new mortgage may be placed upon the prop- 
erty without securing these notes equally therewith. 

Subject to redemption as a whole at par and interest on 
the first day of any month on 8 weeks' notice. 



io 



Railway 



Idaho & Washington Northern R. R. Co. 

Five-Year Convertible Notes dfo 



Dated: 1 Dec, 1910 
Interest Due : June & Dec. 1 
Amount Authorized: $1,200,000 
4 ' Outstanding : 1 ,200,000 
Trustee: G. Form: C. r. 1,000 



Due: 1 Dec, 1915 



Illinois Central R. R. Co. 

Two-Year Secured Notes 



4^% 



Due: 1 July, 1914 



Dated : 1 July, 1912 
Interest Due : Jan. & July 1 
Amount Authorized : $15,000,000 
«« Outstanding: 15,000,000 
Trustee : F. Form : C. 1.000, 5,000, 10,000 



International & Great Northern Ry. Co. 

Three- Year Secured Notes 5 % 



Dated: 1 Aug., 1911 
Interest Due: Feb. & Aug. 1 
Amount Authorized: $11,000,000 
" Outstanding: 11,000,000 
Trustee : C. Form : C. 1 ,000 



Due: 1 Aug., 1914 



An obligation of the company, not specifically secured. 

Convertible into the stock of the company up to 1 Dec. , 
1912, at 80; 1 Dec, 1913, at 85; 1 Dec, 1914, at 90; 
1 June, 1915, at 95. 

Subject to redemption after 1 Dec, 1912, at 105 and in- 
terest; 1 Dec, 1913, at 104; 1 Dec. 1914, at 103. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$15,000,000 Central of Georgia Ry. Pfd. 
4,998,500 " " " " Com. 

These notes were issued to acquire the 1st, 2d and 3d 
Preference Income Bonds of the Central of Georgia 
Ry. amounting in the aggregate to $15,000,000. The 
Central of Georgia Ry. subsequently increased its 
capital stock from $5,000,000 Com., to $20,000,000 
Com. and Pfd. , for the purpose of retiring the income 
bonds. 

Subject to redemption as a whole, on or after 1 July, 
1913, on 3 months' notice. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$13,750,000 International & Great Northern Ry. Co. 

1st Ref. 5s — which are subject to underlying bonds 

at about $10,000 per mile, a mortgage lien on about 

1,106 miles of road. 
Subject to redemption at 110 and interest on 30 days' 

notice. 



ii 



Railway 



Kansas City, Mexico & Orient Ry. Co. 

Receivers' Certificates 5% 



Dated: 1 July, 1912 Due 

Interest Due : Jan. and July 1 
Amount Authorized : $2,500,000 
" Outstanding: 2,000,000 
Trustee : Form : 5,000 



Kansas City Terminal Ry. Co. 

Three -Year Secured Notes 



1 July, 1914 



Dated: 15 July, 1913 Due: 15 July, 1916 

Interest Due : Jan. and July 15 
Amount Authorized : £1,000,000 
" Outstanding: 1,000,000 
Trustee : 111. T. & S. Chi. Form : C. r. £100, £200 

Lake Shore &Michigan Southern Ry. Co. 

One-Year Notes 4%fo 



Dated: 15 Mar., 1913 Due: 15 Mar., 1914 

Interest Due : Mar. & Sept. 15 
Amount Authorized : $12,000,000 
" Outstanding: 12,000,000 
Trustee : Form : C. 1,000, 5,000 

Lake Shore &Michigan Southern Ry . Co. 

One- Year £ Notes Discount 



Dated: 15 May, 1913 Due: 15 May, 1914 
Amount Authorized : $10,000,000 
" Outstanding; 10,000,000 
Trustee : Form : 



Issued by order of the U. S. District Court for the 1st 
Division of Kansas and are a prior lien on the prop- 
erty of the company in Kansas and Oklahoma, and 
by the pledge under this issue of all certificates issued 
or to be issued by the Receivers for the company in 
Texas, a first lien on the property of the company in 
Texas, 

Subject to redemption at any time at 102 and interest 
on 30 days' notice. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$6,667,000 Kansas City Terminal Ry. Co. 1st 

Mortgage 4s. 
Subject to redemption on any interest date at 101 and 

interest in amounts of not less than £200,000. 



An obligation of the company, not specifically secured. 



An obligation of the company, not specifically secured. 
These notes were sold in I^ondon. 



Railway 



Laramie, Hahn's Peak & Pacific Ry. Co. 


An obligation of the company, secured by deposit with 


Five- Year Collateral Trust ] 


States 1% 
1 Jan., 1915 


the Trustee of: 

$900,000 par value Laramie, Hahn's Peak & Pacific 


Dated: 1 Jan., 1910 Due: 
Interest Due : Jan & July 1 
Amount Authorized : $450,000 


Ry. Co. Genl. Mtge. 5% bonds. 
Subject to redemption at 102^. 

The interest on these notes was defaulted and a pro- 
tective committee was formed for these notes and the 


" Outstanding: 450,000 




1st Ref. 6s, of which Mr. A. J. Hemphill is chairman 


Trustee : G. Form : C. r. 1,000 




and the Guaranty Trust Co. of N. Y. depositary. 


Laramie, Hahn's Peak & Pacific Ry. Co. 

Five- Year Notes 7% 


An obligation of the company, not specifically secured. 
On 9 June, 1912, a Receiver was appointed and the 
July 1912 coupon on these notes was not paid. 


Dated: 15 Jan., 1910 Due: 


15 Jan., 1915 




Interest Due : Jan. & July 1 5 






Amount Authorized : $1,000,000 






" Outstanding: 1,000,000 






Trustee : Form : C. 1 ,000 






Maine Central R. R. Co. 




An obligation of the company, not specifically secured. 


Five- Year Debenture Notes 


4% 
1 Apr., 1914 




Dated: 1 Apr., 1909 Due: 




Interest Due : Quarterly J-A-J-O 






Amount Authorized : $2,000,000 






" Outstanding : 2,000,000 






Trustee : Form : C. 1 ,000 






Memphis Union Station Co. 

Two-Year Gold Notes 


5% 
1 Nov., 1913 


An obligation of the company, secured by deposit with 
the Trustee of : 
$2,500,000 Memphis Union Station Co. 1st Mtge. 4% 


Dated: 1 Nov., 1911 Due: 


50-year bonds, due Nov. 1, 1959. 


Interest Due : May & Nov. 1 






Amount Authorized : $2,100,000 






" Outstanding: 2,100,000 






Trustee : B. Form : C. 1,000 







13 



Railway 



Michigan Central R. R. Co. 

One-Year Notes A%% 

Dated: 1 Mch., 1913 Due: 1 Mch., 1914 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $4,000,000 
" Outstanding: 4,000,000 
Trustee : Form : C. 5,000 

Midland Valley R. R. Co. 

Two and One-Half Year Collateral 
Trust Notes 6% 

Dated: 2 July, 1910 
Interest Due : June & Dec. 



Due: 1 Dec., 1912 



Amount Authorized : $ 1 ,800,000 
" Outstanding: 1,800,000 
Trustee: Gir. Phil. Form: C. 100, 500, 



1,000 



Minneapolis & St. Louis R. R. Co. 

Secured Notes 6% 



Dated: 1 Feb., 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized: k $3,000,000 
" Outstanding: 3,000,000 
Trustee: C. Form : C. r. 1,000 



Due: 1 Feb., 1914 



Missouri, Kansas & Texas Ry. Co. 

Two- Year Secured Notes 5 r ; 



Dated: 1 May, 1913 Due: 1 May, 1915 

Interest Due: May & Nov. 1 
Amount Authorized: $25,000,000 
" Outstanding: 19,000,000 
Trustee: C. Form: C. 1,000 



An obligation of the company, not specifically secured. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$2,500,000 Midland Valley R. R. Co. Genl. Mtge. 6s 
(all that may be issued during the life of these notes) 
The notes are in default, and Drexel & Co., Phila- 
delphia, are depositary for a protectiye committee, of 
which Mr. E. T. Stotesbury is chairman. 



An obligation of the company, secured by deposit with 

the Trustee of: 

$6,000,000 Ref. and Ext. 5s of the company. 
Subject to redemption at par and interest. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$24,516,000 Missouri, Kansas & Texas Ry. Consol. 

Mtge. 5s, Series "A." 
Subject to redemption at par and interest on 30 days' 

notice. 



14 



Railway- 



Missouri & North Arkansas R. R. Co. 

Three- Year Receivers' Certificates 5% 



Dated: 1 May, 1912 Due: 1 May, 1915 

Interest Due : May & Nov. 1 
Amount Authorized: $2,500,000 
" Outstanding: 1,250,000 
Trustee: Form: C. 1,000 



Missouri Pacific Ry. Co. 

Three-Year Secured Notes 



Due: 



Dated: 1 June, 1911 
Interest Due : June & Dec. 1 
Amount Authorized: $25,000,000 
" Outstanding: 24,976,000 
Trustee: Un. Form: C. 1,000 



5% 
1 June, 1914 



Mobile & Ohio R. R. Co. 

1st Terml. Mtge. & Coll. Tr. Bonds 5% 



Dated: 15 Feb., 1911 

Due : $60,000 Semi-annually, Feb. & Aug. 15 to 

15 Feb., 1921 
Interest Due : Feb. & Aug. 15 

Amount Authorized : $1,200,000 
Outstanding: 960,000 
Trustee : G. Form : C. r. 1,000 



Issued by order of the U. S. District Court and are an 
absolute first lien on the property of the R. R. Co. 
Any further certificates authorized in addition to 
this issue, will have a lien subordinate to these. 

Subject to redemption as a whole on 1 Nov., 1913, or 
any interest day thereafter, at 101 and interest on 
60 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 
$828,380 Texas & Pacific Ry. Co. 5% notes. 
525,000 Concordia Coal Co. 1st 5s. 
1.972,000 Missouri Pacific Ry. Co. 1st &Ref.5s, Ser.B. 
22,000 000 St. Louis Iron Mountain & Southern Ry. 
Co. 1st and Ref. 6s, Ser. A. 
150,000 Baring Cross Bridge Co. C/S. 
125,000 Pueblo Stock Yards Co. C/S. 
1,000,000 Western Coal & Mining Co. C/S. 
1,070,000 St. Louis Iron Mountain & Southern Ry. 

Co. C/S. 
9,800,000 Denver & Rio Grande R. R. Co. Pref. 
15,000,000 " " " " " Com. 

Subject to redemption at any time at par and interest 
on 60 days' notice. 



An obligation of the company, secured by 1st Mtge. on 
terminal property in Mobile and in Birmingham, 
Ala., and by the deposit with the Trustee of: 
$603,000 Warrior Southern Ry. Co. 1st 4s. 

(Guaranteed by the M. & O. Ry. Co.) 
145,492 Warrior Southern Ry. Co. Paid Equipment 
Trust Notes. 

Certificate of % interest in 
63,785 Cumulative Pref. A Shares of £10 each, and 
106,404 Deferred B shares of £10 each of the 
Alabama, New Orleans, Texas and Pacific 
Junctions Ry. Co. Ltd. 



i5 



Railway 



National Railways of Mexico 

Two-Year Secured Notes 



6% 

Due: 1 June, 1915 



Dated: 1 June, 1913 
Interest Due : June & Dec. 1 
Amount Authorized : $29,160,000 
" Outstanding: 26,730,000 
Trustee : C. Form : C 1,000, 5,000 



New York Central & Hudson River 
R. R. Co. 

Gold Notes 4)4% 



Dated: 1 Mar., 1911 Due: 1 Mar., 1914 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $30,000,000 
" Outstanding : 30,000,000 
Trustee: G. Form : C. 1,000 



New York Central & Hudson River 
R. R. Co. 

One- Year Notes 5% 



Dated: 21 Apr., 1913 Due: 21 Apr., 1914 

Interest Due: Apr. & Oct. 21 
Amount Authorized: $20,000,000 
" Outstanding: 20,000,000 

Trustee: Form:C. $5,000, 10,000 25,000, 

100,000 



An obligation of the company, secured by the deposit 
with the Trustee of : 
$24,800,000 Nat'l Rys. of Mexico Prior Lien 4^s. 

17,000,000 '« " " Gen'l Mtge. 4s. Guar- 

anteed by the U. S. of Mexico, as security for the 
entire issue of notes. 

Pending the deposit of Gen'l Mtge. bonds Prior Lien 
4>£s at parity or 70% in cash will be deposited. 

Subject to redemption on any interest day at par and 
interest on 60 days' notice. 

An obligation of the company, not specifically secured. 



An obligation of the company, not specifically secured. 
10,000,000 of these notes are in $ form and the other 
10,000,000, in £ form were sold in England. 



16 



New York Central & Hudson River 
R. R. Co. 

One- Year Franc Notes 



Railway 



An obligation of the company, not specifically secured. 



Dated: 15 May, 1913 
Interest Discounted : 
Amount Authorized : $2,000,000 
«• Outstanding: 2,000,000 

Trustee: 

Form: 



Due: 15 May, 1914 



New York Central & Hudson River 
R. R. Co. 

Three-Year Gold Notes 4j^'% 



Dated: 1 May, 1912 Due: 1 May, 1915 

Interest Due : May & Nov. 1 
Amount Authorized: $30,000,000 
Outstanding : 20,000,000 
Trustee Form : C. r. 1 ,000 



New York, New Haven & Hartford 
R. R. Co. 

One-Year Notes 5% 



An obligation of the company, not specifically secured. 



An obligation of the company, not specifically secured. 



Dated: 2 Dec, 1912 Due: 1 Dec, 1913 




Interest Due : June & Dec 1 




Amount Authorized: $40,000,000 




Outstanding : 40,000,000 




Trustee: Form: C. $5,000, 10,000, 25,000 




100,000 





17 



Railway 



New York, New Haven & Hartford 
R. R. Co. 

Non-Convert. Notes 4- ',- 



An obligation of the company, not specifically secured. 



Dated: 1 Feb., 1904 Due: 1 Feb., 1914 

Interest Due : Feb. & Aug. 1 
Amount Authorized: $5,000,000 
Outstanding: 5,000,000 
Trustee: Form: C 1,000 

New York, Ontario & Western Ry.Co. 

Sinking Fund 1st Lien Notes 5- "<■_ 



Dated: 1 Dec., 1900 Due: $200,000 S. A 

June & Dec. 1 to Dec. 1915 
Interest Due : June & Dec. 1 
Amount Authorized: $3,500,000 
'■ Outstanding: 1,000,000 
Trustee: G. Form: C. 1,000 

Northern Pacific Ry. Co. 

One-Year Notes 6 r "■-_ 

Dated: 9 July, 1913 Due: 9 July, 1914 

Interest Due : Jan. & July 9 
Amount Authorized: 510,000,000 
Outstanding: 10,000,000 
Trustee: Form: C. 5,000, 10.000. etc. 



An obligation of the company, secured by deposit with 
the Trustee of : 

1st Mtge. on Elk Hill Coal & Iron property, and 
further secured under the Genl Mtge. of the Co. 
equally with the bonds issued thereunder. 



An obligation of the company, not specifically secured. 



Pan American Co. 

Collateral Note: 



6^ 



Dated: 1 Oct., 1909 Due: 1 Oct., 1914 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $1,600,000 
Outstanding : 1 ,600,000 
Trustee : C. & C. Chi. Form : C. 1 ,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

600.000 Pan American R. R. Co. C S. 
3,570,000 " " " Gen'l Mtge. 5s. 

These notes have been assumed by the Natl Rys. of 

Mexico. 
Subject to redemption at any time at par and interest 
30 days' notice. 



18 



Railway 



Pennsylvania R. R. Co. 

Convertible Notes 3^2% 

Dated: 2 Oct., 1905 Due: 1 Oct., 1915 

Interest Due : Apr. & Oct. 1 
Amount Authorized :$ 1 00,000,000 
14 Outstanding: 86,827,000 
Trustee: Gir. Phil. Form: C. 1,000, 500, R. 

Pennsylvania Co. 

Debentures 3^% 



Dated: 1 Nov., 1901 
Interest Due: May & Nov. 1 
Amount Authorized: $20,000,000 
" Outstanding: 5,326,000 
Trustee: Gir. Phil. Form: C. r. 1,000 



Pere Marquette R. R. Co. 

Five- Year Collateral Trust 



Due: 1 Nov., 1916 



6% 



Dated: 1 Mar., 1911 Due: 1 Mar., 1916 

Interest Due : Mar. & Sept. 1 
Amount Authorized: $10,000,000 
" Outstanding: 8,000,000 
Trustee: G. Form: C. 1,000 



Pere Marquette R. R. Co. 

Five- Year Notes 



Dated: 1 July, 1907 
Interest Due : Jan. & July 1 
Amount Authorized: $5,000,000 
" Outstanding: 5,000,000 
Trustee : Form : C. 1 ,000 



Due: 1 



6% 
July, 1912 



An obligation of the company, not specifically secured. 
Convertible into the stock of the company at $75 a 

share, (par value $50). 
Subject to redemption at par and interest. 



An obligation of the company, secured by the deposit 
with the Trustee, originally, of : 

$15,000,000 par value Pitts., Chicago, Cincinnati & 
St. Louis Ry. Pref. 
5,000,000 par value Baltimore & Ohio R. R. Pref. 
5,000,000 " " Norfolk & Western Ry. Ad- 
justment Pref. 
The company has the right to withdraw a proportionate 
amount of collateral as the debentures are retired by 
the Sinking Fund ($1,334,000 per annum) 
Guaranteed principal and interest by the Pennsylvania 
R. R. Co. 

An obligation of the company, secured by deposit with 

the Trustee of : 

$16,000,000 Pere Marquette Ry. Co. Imp. and Ref. 

Mtge. 5s. 
Default was made upon these notes, the collateral sold 

by the Trustee, and a payment of $799.40 per bond 

made. 



An obligation of the company, not specifically secured. 

The company, being unable to meet these notes at ma- 
turity went into the hands of receivers, and the de- 
fault on the notes still continues. 

A committee for the protection of these notes was 
formed, of which Mr. A. J. Hemphill is Chairman, 
Mr. L. B. Franklin, Sec'y., and the Guaranty Trust 
Co., Depositary. All at 140 Broadway, N. Y. 



19 



Rail 



way 



Pere Marquette R. R. Co. 

Receivers' Certificates 



4^% 



Dated: 23 Apr., 1912 Due: 23 Apr., 1914 

Interest Due: Quarterly J-A-J-O 23 
Amount Authorized: $605,000 
" Outstanding: 605,000 
Trustee: Form: C. 5,000 



Issued by order of the U. S. District Court and are a 
first lien upon all the property and income of the 
company in Michigan. 



Pere Marquette R. R. Co. 

Receivers' Certificates 5 % 



Dated: 1912 
Interest Due : J. & D. 
Amount Authorized: $3,500,000 
" Outstanding: 3,500,000 
Trustee: Form : C. 1,000 



Due: 1915 



Issued by order of the Court, having a lien ahead of the 
Gen'l Mtge. bonds, but subordinate to the underlying 
securities. 



Pittsburgh & Shawmut R. R. Co. 

Two-Year Equip. & 1st Lien Coll. 
Extended Notes 69c 

Dated: 1 June, 1911 Due: 1 June, 1914 

Interest Due : June & Dec. 
Amount Authorized: $3,250,000 

Outstanding : 2,500,000 
Trustee: G. Form: C. r. 1,000, R. Int. 



An obligation of the Company, secured by the deposit 
with the Trustee of : 
$8,350,000 Pittsburgh & Shawmut 1st Mtge. 5s. 

1,250,000 Alleghany River Mining Co. 1st 5s., and 
the pledge of equipment costing $600,000. 



Railway 



Pittsburgh, Shawmut & Northern R.R. 


These certificates are a lien prior to all others on the 


Co. 




assets of the company and upon the mortgaged prop- 




erties of the Shawmut Mining Co. and the Kersey 


Receivers' Certificates 


5% 


Mining Co. 






Subject to redemption on any interest date. 


Dated: 1 June, 1909 $525,000 Due: 1 


June, 1914 


$525,000 at par and interest on 90 days' notice. 


1 Aug. 1910 1,500,000 1 


Aug. 1915 


1,500,000 at 105 and interest. 


1 Sept. 1910 200,000 1 


Sept. 1915 


200,000 at par and interest. 


1 Mar. 1911 875,000 1 


Mar. 1916 


875,000 at par and interest on 90 days' notice. 


Interest Due : June & Dec. 1 






Feb. & Aug. 1 






Mar. & Sept. 1 respectively 






Amount Authorized: $1,500,000 Ou1 


t. $525,000 




1,500,000 


1,500,000 




200,000 


200,000 




875,000 


875,000 




Trustee: Form: C. 1,000 






St. Louis & San Francisco R. 


R. Co. 


An obligation of the company, secured by the deposit 


Two-Year Secured Gold Notes 5% 


with the Trustee of : 






$2,500,000 par value St. Louis & San Francisco Certs, 
representing $625 000 Chicago & Eastern 


Dated: 1 June, 1911 Due: 1 


June, 1913 


Interest Due: June & Dec. 1 




Illinois Com. 


Amount Authorized: $2,250,000 




1,490,000 par value St. Louis & San Francisco Certs, 
representing a like amount of Kansas City, 


" Outstanding: 2,250,000 




Fort Scott & Memphis Pref. 


Trustee: O. C. Bos. Form: C. 1,000 




100,000 St. Louis & San Francisco R. R. Co. 
Gen'l 5s. 
The road is now in the hands of Receivers, owing to its 

inability to meet these notes upon maturity. 
A committee has been formed for the protection of 
these notes, of which the Old Colony Trust Co. of 
Boston is Depositary. 



Railway 



St. Louis & San Francisco R. R. Co. 

Two-Year Notes 6% 



Dated: 1 Sept., 1912 
Interest Due : M. & S. 1 
Amount Authorized: $2,600,000 
" Outstanding: 2,600,000 
Trustee: E. Form: C. 1,000 



Due: 1 Sept., 1914 



Seaboard Air Line 

Three-Year Notes 



Due: 



5% 
Feb., 1916 



Dated: 1 Mar., 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized: $6,000,000 
" Outstanding: 6,000,000 
Trustee: B. Form: C. 1,000 

Shannon- Arizona Ry. Co. 

Ten- Year S/F 1st Mortgage 6% 

Dated: 1 Nov., 1909 Due: 1 Nov., 1919 

Interest Due : May & Nov., 1 
Amount Authorized : $600,000 
" Outstanding: 414,000 
Trustee : B. S. D. & T. Bos. Form : C. r. 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

20,000 shares New Orleans, Texas & Mexico R. 
R. Co. Stock. 
$4,229,185.09 face value New Orleans, Texas & Mexico 
R. R. Co. Notes. 
14,000 shares Kirby Lumber Co. Pref. 
$475,000 face value San Benito & Rio Grande Valley 
Inter. Ry. Notes. 
499 shares San Benito & Rio Grande Valley 
Inter. Ry. Co. 
1 share San Benito & Rio Grande Valley 
Ry. Co. 
Notes due June, 1913, were defaulted and the road is 

now in the hands of a Receiver. 
A committee has been formed for the protection of 
these notes, of which the Equitable Trust Co. of 
New York is the Depositary. 

An obligation of the company, secured by deposit with 
the Trustee of : 
$10,000,000 Seaboard Air Line Ref. 4s. 

The company agrees to maintain the margin of collat- 
eral existing at the date of issue of the notes, namely 
— about 30% , at the market value of the collateral. 

Subject to redemption at par and interest on any interest 
date. 



An obligation of the company, secured by a first mort- 
gage on the property now owned or hereafter acquired 
of the R. R. Co. 

Guaranteed as to principal and interest by the Shannon 
Copper Co. 

Convertible until 1 Nov., 1912, into stock of the Shannon 
Copper Co. at $20 (par $10). 

Sinking Fund provides for a payment annually 1 Nov. 
of 2% of bonds outstanding. 

Subject to redemption on any interest date at par and 
interest. 



22 



Railway 



Southern Pacific Co. 

One- Year Secured Notes 



Dated: 16 June, 1913 Due 

Interest Due : June & Dec. 1 5 
Amount Authorized : $30,000,000 
" Outstanding: 20,000,000 
Trustee: C. Form: C. 1,000 



5% 
15 June, 1914 



Southern Ry. Co. 



Three- Year Notes 



5% 



Due: 1 Feb., 1916 



Dated: 1 Feb., 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized : $5,000,000 
" Outstanding: 5,000,000 
Trustee: C. Form: C 1,000 



Toledo, St. Louis & Western R. R. Co. 

Series A. & B. Collateral Trust 4% 



Dated: 1 Aug., 1907 

Interest Due : Feb. & Aug. 1 

Amount Authorized : $12,000,000 

011+ , m1 - „. (A. $6,480,000 
Outstanding: 1 R 5) ' 047 ' 000 



Due: 1 Aug., 1917 



Trustee: C. 



IB. 
Form: C. 



1,000 



An obligation of the company, secured by deposit with 
the Trustee of: 

$17,500,000 Northwestern PacificR.R. Co. lstRef.4^s. 
17,500,000 Pacific Electric Ry. Co. Ref. Mtge. Series 

A 5s. 
4,000,000 Galveston, Harrisburg & San Antonio 
Ry. Co. Galveston Victoria Div's'n 1st 
Mtge. 6s. 
As security for the entire issue, a proportionate amount 
to be deposited for the proportion of notes now out- 
standing. 
Payable in New York or in London at the fixed rate of 
4.865. 



An obligation of the company, not specifically secured. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$6,480,000 Chicago & Alton R. R. Pref. 
14,420,000 " " " Com. 

These bonds were issued in exchange for the Chicago & 
Alton R. R. Stocks pledged as security — at the rate 
of dollar for dollar for the preferred, and 35% for 
the common. Both series are equally secured. 



23 



Railway 



Wabash R. R. Co. 

Coll. Tr. Notes 



4# 



Dated: 1 May, 1905 
Interest Due : May & Nov. 1 
Amount Authorized: $10,000,000 
11 Outstanding: 5,000,000 
Trustee : C. Form : C. r. 1,000 



Due: 1 Maw, 



13 



Wabash R. R. Co. 

Receivers' Certificates 



Due 



Dated: 1 Feb., 1912 
Interest Due : Feb. 6c Aug. 1 
Amount Authorized: $15,000,000 
" Outstanding: 14,000,000 
Trustee: Form: C. 1,000 



5% 

Aug., 1913 



An obligation of the company, secured by deposit with 
the Trustee of: 

§1,200,000 Pacific Express Co. C S 
240,000 Belt Ry. Co. of Chicago C S. 
121,700 American Refrigerator Transit Co. C/S. 
1,500,000 Wabash, Pittsburgh Terminal Ry. Co. 
Demand Notes, secured by $14,000,01)0 
Pittsburgh Terminal R. R. & Coal Co. C/S. 
3.500,000 Wabash, Pittsburgh Terminal Ry. Co. 
Demand Notes secured :t si -.'.'. .-'<:■'_> Pitts- 
burgh Terminal R. R. & Coal Co. Consol. 

5,000,000 Wabash R. R. Co. 1st Ref. & Extension 4s. 
The Wabash R. R. Co. was already in the hands of 
Receivers when payment was defaulted on these notes. 
A protective committee was formed, of which 
Mr. J.W. Platten is Chairman and the U. S. Mortgage 
5c Trust Co. Depositary. Arrangements were made 
for the depositary to advance the 1 May, 1913 coupon. 



Issued by order of the Court. These certificates have a 
lien on all the property and income of the road prior 

to the lien of the first Refunding & Extension Mort- 
gage dated 1 July, 1906. 



Wabash-Pittsburgh Terminal Ry. Co. 



Receivers' Certificates 



Dated: 1 Feb., 1913 Due 

Interest Due : Feb. 6c Aug. 1 
Amount Authorized : $973,000 
" Outstanding: 973,000 
Trustee: Form: C 1,000 



6-~c 
Feb.. 1914 



Issued pursuant to an order of the U. S. District Court 
and secured by a first lien on the property of the 
Ry. Co. in the hands of the receiver prior to the 
first mortgage bonds, jointly with the two other 
issues except as to the 500 and the 1,000 steel coal 
cars, in respect to which this issue is subordinated. 

Subject to redemption at par and interest on 1 Aug. .1913, 
upon 2 weeks' nctict 



'— 



Railway 



Wabash-Pittsburgh Terminal Ry. Co. 

Receivers' Certificates 6% 



11 Mar., 1914 



Dated: 11 Mar., 1913 Due 

Amount Authorized : $433,772 

" Outstanding: 433,772 

Trustee: Form: C. 1,000 



Wabash-Pittsburgh Terminal Ry. Co. 

Receivers' Certificates 6% 



Dated : 1 June, 1913 
Interest Due : June & Dec. 1 
Amount Authorized : $989, 1 1 
Outstanding: 989,110 
Trustee: Form: C. 1,000 

West Side Belt R. R. Co. 

Receivers' Certificates 



Due : 1 June, 1914 



6% 



Dated: 1 June, 1913 Due: 1 June, 1914 

Interest Due: June & Dec. 1 
Amount Authorized: $714,300 
" Outstanding: 714,300 

Trustee: Form: C. 1,000 



Western Maryland Ry. Co. 

Secured Notes 



5% 



Dated: 1 Jan., 1912 Due: 1 July, 1915 

Interest Due : Jan. & July 1 
Amount Authorized: $10,000,000 
" Outstanding: 10,000,000 
Trustee: E. Form: C. 10,000 



Issued pursuant to an order of the U. S. District Court 
and is a first lien upon 500 steel coal cars, and, jointly 
with the two other issues, a lien upon the property 
of the Railway Co. prior to the 1st mortgage bonds, 
except in respect to 1,000 steel coal cars upon which 
this issue has a subordinate lien. 

Callable 11 Sept. , 1913, at par and interest upon 2 weeks' 
notice. 

Issued under authority of the U. S. District Court for 
Western Pennsylvania, and are a specific first lien 
on 1,000 steel hopper cars and jointly with the two 
others a lien upon the property of the Railway Co. 
prior to the first mortgage bonds, except as to 500 
steel cars, upon which this issue has a subordinate 
lien. 

Subject to redemption on 1 Dec, 1913, at par and interest 
on 30 days' notice. 

Issued under authority of the U. S. District Court of the 
Western District of Pennsylvania, and have a lien 
prior to all other liens, debts or mortgages upon the 
property of the company. 

Subject to redemption on 1 Dec, 1913, at par and interest 
on 30 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$400,000 face value Four States Coal & Coke 1st S. F. 
Gt'd 5s. 
59,973 shares Connellsville & State Line Ry. Co. 
par $50. 
976 shares Baltimore Fidelity Warehouse Co. 
par $100. 
69,992 shares George Creek & Cumberland R. R. 
Co. par $50. 
Subject to redemption at 102 and interest on 90 days' 
notice. 



25 



Railway 



Western Maryland Ry. Co. 

One-Year Notes 



Dated: 1 Jan., 1913 
Interest Due: Jan. & July 1 
Amount Authorized : $3,000,000 
■■ Outstanding: 3,000,000 
Trustee: Form: R. 5,000 

Wheeling & Lake Erie R. R. 

Various Issues of Receivers' Certs. 

5%, 6% 

Due: 1 Nov., 1913, $4,190,850 
1 Apr., 1915, 431,000 
Interest Due : 5 °Jc May & Nov. 1 
6% Apr. & Oct. 1 
Amount Authorized : $4,62 1 ,850 
5% 4,190,850 
' ' Outstanding : 6 % 43 1 ,000 



A direct obligation of the company, not specifically 

secured. 
Subject to redemption at par and interest on 90 days' 
Due: 1 Jan., 1914 \ notice. 



6% 



Trustee : 



Form: C. 1,000 



Issued at various times under authority of the U. S. 
District Court for the Northern District of Ohio, and 
have a lien on the income and property of the com- 
pany prior to the general mortgage, but subject to 
$15,000,000 of underlying bonds not disturbed by the 
Court, and some $1,500, 000 of Equipment Obligations, 
which have a first lien upon some of the equipment. 



26 



Public Service and Utility 



American Cities Co. 

Coll. Trust Eight-Year Bonds {*% jWjJ™ 



Dated: 1 July, 1911 Due: 1 July, 1919 

Interest Due : Jan. & July 1 
Amount Authorized: $11,000,000 
" Outstanding: 10,000,000 
Trustee: W. C. N. O. Form: C. r. 100, 1,000, 

R. Int. 



American Gas Co. 

Collateral Trust 



Dated: 1 Oct., 1907 
Interest Due: Apr. & Oct. 1 
Amount Authorized: $1,500,000 
" Outstanding: 1,500,000 
Trustee : Mer. U. T. Phil. Form : C. r 



Due: 1 Oct., 1914 



,000 



American Gas Co. 

Collateral Trust Convertible 



Due: 1 June, 1920 



Dated: 1 June, 1910 
Interest Due : June & Dec. 1 
Amount Authorized: $4,500,000 
" Outstanding: 3,000,000 
Trustee: Mer. U. T. Phil. Form: C. r. 500, 1,000 



An obligation of the company, secured by deposit with 
the Trustee of the shares of stock of the controlled 
companies, owned by the American Cities Co., as 
follows : 

Par Value Name of Co. 

Pref. Com. 

$2,750,700 $3,089,200 Birmingham Ry. Lt & Power 
Co. 
458,300 1,000,000 Houston Light & Power Co. 
495,600 1,491,900 Knoxville Ry. & Lt Co. 
600,900 1,213,100 Little Rock Ry. & Elec. Co. 
2,208,700 2,153,500 Memphis Street Ry. Co. 
8,757,700 19,255,700 New Orleans Ry. & Light Co. 
Subject to redemption at par and interest upon 2 

months' notice. 
An obligation of the company, secured by deposit 
with the Trustee of the stocks of the controlled com- 
panies owned by the American Gas Co. , as follows : 
Par Value Name 

$1,249,876 Burlington (Vt.) Gas Co. C/S. 

697,500 Kingston (N. Y.) Gas & Elec. Co C/S 
299,750 Rockford (111.) Gas, Light & Coke Co.C/S. 
200,000 Western United Gas & Elec. Co. of 111. Pref. 
96,900 Kewanee (111) Light & Power Co. C/S. 
99,700 Lighting & Heating Co. of Kewanee, 111., 
C/S. 
410,000 St. Clair Gas & Electric Co. 1st Cons. 5s. 
Subject to redemption at 102% on any interest day upon 

3 weeks' notice. 
The privilege of converting these bonds expired 1 Oct., 

1910. 

An obligation of the company, secured by deposit with 
the Trustee of the stock of the controlled companies 
as follows : 

Par Value Name 

$4,245,000 Philadelphia Suburban Gas & Elec. Co. 

1,997,500 Luzerne Co. Gas & Elec. Co., 
and also by a second lien upon the stocks pledged as 
collateral for the notes due Oct. 1914. 
Callable at par and interest on any interest day on 3 

weeks' notice. 
The stockholders voted in Nov., 1911, to remove the 
conversion privilege from $1,000,000 of the then out- 
standing notes. 



27 



Public Service and Utility 



American Power & Light Co. 

Ten -Year Notes 



DU! 



Dated: 1 Aug., 1911 
Interest Due: Feb. & Aug. 1 
Amount Authorized : $2,200,000 
" Outstanding: 2,200,000 
Trustee: G. Form: C. 100, 500, 1,000 

American Railways Co. 

Collateral Trust 



1 Aug., 1921 



Due 



Dated: 1 Apr., 1907 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $2,500,000 
" Outstanding: 2,500,000 
Trustee: Eq. Phil. Form : C. r. 1,000, R 

Appalachian Power Co. 

Convertible Two-Year Notes 



5 9 
1 Apr., 19 



Dated: 20 Nov., 1912 
Interest Due : May & Nov. 20 
Amount Authorized: $10,000,000 
Outstanding: 500,000 
Trustee: C. & C. Chi. Form: C. 1,000 

Brooklyn Rapid Transit Co. 

Six-Year Secured Notes 



6"r 

Due: 20 Nov., 1914 



Dated: 1 July, 1912 
Interest Due: Jan. & July 1 
Amount Authorized: $60,000,000 
" Outstanding: 40,000,000 
Trustee : C. Form : C. r. 1 ,000 



Due: 1 July, 1918 



An obligation of the company, not specifically secured. 

Each note upon issuance was accompanied by an option 
warrant entitling the holder to subscribe, until 1 Aug. , 
1921, to common stock of the company at par, to an 
amount equal to the notes and option warrants held, 
the notes to be accepted at par and interest in pay- 
ment for the stock. 

Callable as a whole at 102 and interest on any interest 
date. 

An obligation of the company, secured by the deposit 
with the Trustee of: 

$1,475,000 (of $1,500,000) Altoona & Logan Valley 
Electric Co. C/S. 
1,975,000 (of $2,039,900) Scranton Railway Co. Com. 



An obligation of the company, not specifically secured. 
Convertible at par into the Preferred stock of the 

company. 
Subject to redemption at 100 and interest on 30 days' 

notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$10,000,000 Brooklyn Rapid Transit Co. Ref. 4s. 
40,000,000 New York Municipal Ry. Corp. 1st S F 
5s Series A. 
Convertible at par into bonds of the new Subway Co. 
Subject to redemption on any interest day after 1 Jan., 
1916, at 101 and interest on 90 davs' notice. 



28 



Public Service and Utility 



Central States Electric Corp. 

Ten -Year Secured Notes 



Dated: 1 June, 1912 
Interest Due : June & Dec. 1 
Amount Authorized: $6,000,000 
'• Outstanding: 5,451,500 
Trustee: G. Form: C. r. 500, 1,000 



Due: 1 June, 1922 



Chicago Elevated Railways 

Three-Year Coll. Notes 



Dated: 1 July, 1911 
Interest Due : Jan. & July 1 
Amount Authorized: $30,000,000 
" Outstanding: 30,000,000 
Trustee: 111. T. & S. Chi. Form: C 



5% 
Due: 1 July, 1914 



1,000 



An obligation of the company, secured by deposit with 

the Trustee of : 

$6,630,400 Cleveland Electric 111. Co. C/S. 
Subject to redemption on any interest day at 101 and 

interest on 30 days' notice. 



An obligation of the company, secured by the deposit 
with the Trustee of : 

$25,000,000 Northwestern Elevated R. R. 1st 5s, 
making the notes a first lien on the 
property. 
9,477,600 (out. $10,231,000) South Side Elevated Ry. 

C/S. 
8,090,600 (out. $8,707,900) Metropolitan West Side 

Elevated Ry. Co. Pref. 
7,047,800 (out. $7,464,100) Metropolitan West Side 

Elevated Ry. Co. Com. 
4,589,600 (out. $5,000,000) Northwestern Elevated 
R. R. Com., which road owns the Union 
Elevated R. R. Co. and the Chicago & 
Oak Park Elevated Ry. Co. 
647,643 Demand Note Chicago & Oak Park Ele- 
vated Ry. Co. 
22,000 Demand Note Chicago & ElmhurstRy.Co. 
Subject to redemption as a whole on any interest day at 

par on 30 days' notice. 
The Chicago Elevated Railways is not a corporation but 
a voluntary association formed under the laws of 
Mass. by deed of trust dated 3 June, 1911. 



29 



Public Service and Utility 



Cities Service Co. 

Five- Year Convertible 



17c 

Due: 15 May.1917 



Dated: 15 May, 1913 
Interest Due : Jan. & July 1 
Amount Authorized: $10,000,000 
Outstanding: 5,000,000 
Trustee: E. Form: C. 100, 500, 1,000 

Columbus Electric Co. 

Three-Year Notes 5% 

Dated: 1 July, 1911 Due: 1 July, 1914 

Interest Due : Jan. & July 1 
Amount Authorized: $1,000,000 
Outstanding: 1,000,000 
Trustee: Com. Bos. Form: C. r. 100, 500, 1,000 



Columbus Railway & Light Co. 

Three-Year Collateral Trust Notes 



Due: 1 



Dated: 1 June, 1911 
Interest Due : June & Dec. 1 
Amount Authorized: $1,000,000 
" Outstanding: 600,000 
Trustee : Form : C. r. 1 ,000 



5% 
June, 1914 



Commonwealth Power Ry. & Lt. Co. 

Five-Year Convertible 6% 



Dated: 1 May, 1913 Due: 1 May, 1918 

Interest Due : May & Nov. 1 
Amount Authorized: $10,000,000 
Outstanding : 7,500,000 
Trustee: B. Form: C. r. 100, 500, 1,000 



An obligation of the company, not specifically secured. 
Convertible at any time into Preferred stock of the 

company at par. 
Subject to redemption at 102 and interest on 30 days' 

notice. 



An obligation of the company, not specifically secured. 
The company and its subsidiaries operate the electric 

railway and lighting, gas and power business of 

Columbus, Ga. 



An obligation of the company, secured by the deposit 

with the Trustee of : 

4,000 shares Columbus Ry. Co. Com. 

2,000 '« ColumbusEdisonCo.Com. 

3,250 " Columbus Traction Co. Pref 
Subject to redemption at 101. 
The company, which operates trolley and traction lines, 

and also the power, lighting and heating business of 

Columbus, Ohio, changed its name, early in 1913. to 

the Columbus Railway, Power & Light Co. 

An obligation of the company, not specifically secured. 
Convertible in amounts of $1,000 from 1 May, 1916, to 

Maturity, into Pref. Cum. 6% Stock 100% and 

Common Stock 30%. 



30 



Public Service and Utility 



Connecticut River Power Co. of 
New Hampshire 

Five-Year Notes 



6% 



Due: 1 Apr., 1915 



Dated: 1 Apr., 1910 
Interest Due : Apr. & Oct. 1 
Amount Authorized : $500,000 
" Outstanding: 314,000 
Trustee : Am. T. Bos. Form : C. 1 ,000 



Consolidated Gas Co. of New York 

One-Year Collateral Trust Notes 5 ' 



Dated: 10 Aug., 1912 Due: 10 Aug., 1913 

Interest Due: Feb. & Aug. 10 
Amount Authorized: $5,000,000 
" Outstanding: 5,000,000 
Trustee: F. Form: C. & R. 1,000, 5,000, 10,000, 
25,000 



An obligation of the company, not specifically secured. 
Subject to redemption on any interest day at par and 
interest upon 60 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$6,250,000 New York Edison Co. C/S 
(total issue $50,549,400). 

The company covenants not to create any additional 
mortgage without securing these notes equally there- 
under. 



Consolidated Gas Co. of New York 

Secured Notes 6% 



Due: 25 Feb., 1914 



Dated: 25 June, 1913 
Interest Due: 25 Feb., 1914 
Amount Authorized: $15,000,000 
44 Outstanding: 15,000,000 
Trustee : F. Geller & A. V. Heely of N. Y 
Form : C. 1 ,000 



An obligation of the company, secured by deposit with 
the Trustees of : 
$15,000,000 New York Edison Co. C/S. 



3i 



Public Service and Utility 



Dallas (Texas) Electric Corp. 

Five- Year Notes 



Due: 1 



5% 
Feb., 1917 



Dated: 1 Feb., 1912 
Interest Due : Feb. & Aug. 1 
Amount Authorized: $3,500,000 
" Outstanding: 1,000,000 
Trustee: Am. T. Bos. Form : C. r. 500, 1,000 

Denver Gas & Electric Co. 

Three- Year Convertible Secured Notes 6% 



Due: 1 Apr., 1914 



Dated: 1 Apr., 1911 
Interest Due: Apr. 8c Oct. 1 
Amount Authorized: $2,500,000 
" Outstanding : 2,500,000 
Trustee: E. Form: C. 1,000 



Detroit Edison Co. 

Ten- Year Convertible Debentures 6% 



Dated: 1 Apr., 1910 Due: 1 Apr., 1920 

Amount Authorized: $1,500,000 
" Outstanding: 78,700 

Trustee: Form: C. r. TOO, 1,000 



Detroit Edison Co. 

Ten-Year Convertible 



6% 



Dated: 1 Feb., 1911 
Interest Due : Feb. & Aug. 1 
Amount Authorized : $ 1 ,500,000 
" Outstanding: 127,200 
Trustee: Form: C. r. 100, 1,000 



Due: 1 Feb., 1921 



An obligation of the company, not specifically secured. 

The company covenants that it will not place any new 
mortgage Upon its property without including 
these notes equally in the security thereof. 

Subject to redemption on any interest date at par and 
interest on 30 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$936,600 Denver Gas & Electric Gen'l (now 1st) 5's 
and by deposit with the Guaranty Trust 
Co. of 
$5,000,000 Denver Gas & Electric 1st and Ref . 5's. 
Convertible at any time into Cum. 6% Preferred Stock 

of the Cities Service Co. 
Subject to redemption at 101 and interest on 60 days' 
notice. 

An obligation of the company not specifically secured. 
Convertible at any time between 1 Apr., 1912, and 

1 Apr., 1918, into stock of the company at par. 
Subject to redemption after 1 Apr., 1915, at 105 and 

interest on 60 days' notice. 



An obligation of the company, not specifically secured. 
Convertible at any time between 1 Feb., 1913, and 

1 Feb., 1919, into stock of the company at par. 
Subject to redemption after 1 Apr., 1915, at 105 and 

interest on 60 days' notice. 



32 



Public Service and Utility 



Eastern Power & Light Corp. 

Five-Year Convertible 



Dated: I Mar., 1913 Due: 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $2,350,000 
11 Outstanding: 2,350,000 
Trustee: E. Form: C. r. 500, 1,000 



5% 
Mar., 1918 



Eastern Texas Electric Co. 

Three-Year Notes 



6% 



Due: 1 July, 1916 



Dated: 1 July, 1913 
Interest Due : Jan. & July 1 
Amount Authorized: $500,000 
" Outstanding: 500,000 

Trustee: St. St. T. Bos. Form : C. r. 500, 1,000 



An obligation of the company, secured by the deposit 

with the Trustee of the following securities or of 

cash in lieu thereof at fixed ratios : 

$750,000 Reading (Pa.) Transit & Light Co. 10-Year 

Qfo Debentures. 

2,650,000 Reading (Pa.) " Common C/S 

1,250,000 West Virginia Traction & Electric Co., 

Common C/S 
*350,000 Colonial Power & Light Co. (Vt), 1st 

Mtge. 5s. 
*270,000 Colonial " " Common C/S 

*200,000 Claremont Power Co. (N. H.) 1st Mtge. 5s. 
♦100,000 " " " " Preferred. 

*600,000 " " " " Common. 

*150,000 Claremont Ry. & Lighting Co. (N. H.), 1st 

Mtge. 5s. 
♦146,000 Claremont " " " " C/S 

175,000 City Electric Lighting Co. of Vincennes 

(Ind.), 1st. Mtge. 5s. 
300,000 City Electric Lighting Co.of Vincennes C/S 
40,000 Vincennes Electric Co. Cap. Stock. 
♦Securities marked thus have been issued subject to the 
approval of the Public Service Commissioners of Ver- 
mont and New Hampshire. 
Convertible at any time after 1 Mar., 1917, into Cumu- 
lative 7 % Pref . Participating Stock of the company. 
Subject to redemption on any interest day at 101 and 
interest on 30 days' notice. 



An obligation of the company, not specifically secured. 
Subject to redemption as a whole at par and interest on 
30 days' notice. 



33 



Public Service and Utility 



Federal Light & Traction Co. 

Springfield Notes 5 % 

Dated: 1 Mar., 1911 Due: 1 Mar., 1914 

Interest Due : Mar. & Sept. 1 
Amount Authorized: $960,000 
" Outstanding: 500,000 
Trustee: G. Form: C. r. 1,000 



Federal Light & Traction Co. 

Ten-Year Convertible 



6% 



Dated: 1 Mar., 1912 Due: 1 Mar., 1922 

Interest Due : Mar. & Sept. 1 
Amount Authorized: $1,500,000 
Outstanding 1,500,000 
Trustee: Bklyn. T. Form: C. r. 1,000 

Galveston-Houston Electric Co. 



Three-Year Notes 



6% 



Due: 1 Apr., 1914 



Dated: 1 Apr., 1911 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $2,000,000 
" Outstanding: 600,000 
Trustee: St. St. T. Bos. Form: C. r. 1,000 

Gary & Interurban Ry. Co. 

Three-Year Collateral Trust 



6% 



Dated: I.Sept., 1912 Due: 1 Sept., 1915 

Interest Due : Mar. & Sept. 1 
Amount Authorized: $350,000 
Outstanding: 350,000 
Trustee: Ba. T. Bait. Form: C. r. 500, 1,000 



An obligation of the company, secured by deposit with 

the Trustee of : 

$1,600,000 Springfield Ry. & Lt. Co. C/S. 
Subject to redemption at any time at par and interest 

on 2 weeks' notice. 



An obligation of the company, secured by a lien on all the 
property of company subject to $3,400,000 1st lien 5s. 

Convertible at 90, after 1 March, 1913, into 1st lien 5% 
bonds of the company, provided total net earnings 
are 2}4 times the interest charges on all 1st lien bonds. 

Subject to redemption as a whole on any interest date at 
par and interest on 6 weeks' notice. 



An obligation of the company, not specifically secured. 
Convertible at any time to 1 Jan., 1914, into Common 

Stock at par. 
Subject to redemption as a whole on any interest day, at 

101 and interest on 60 days' notice. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$500,000 East Chicago Ry. Co. 1st 5s. 
500,000 ■■ " " "C/S 

Convertible at 90 into the East Chicago Ry. 1st 5s on 

1 Sept., 1915, on 60 days' written notice to the Trustee. 



34 



Public Service and Utility 



Gas Securities Co. 

One-Year Notes 


6% 
10 Mar., 1914 


An obligation of the company, not specifically secured. 
Subject to redemption at any time at 101 and interest on 
30 days' notice. 


Dated: 10 Mar., 1913 Due: 




Interest Due: Sept. & Mar. 10 






Amount Authorized: $3,500,000 






'« Outstanding: 3,500,000 






Trustee: Mut.A.U.N.Y. Form: C. 1 00, 500, 1 ,000 




Hudson Companies 

Notes 


6% 
15 Oct., 1913 


An obligation of the company, secured by deposit with 
the Trustee of: 
$12,000,000 Hudson & Manhattan R. R. Co. 1st 4>£s. 


Dated: 15 Dec, 1910 Due: 
Interest Due : Apr. & Oct. 1 
Amount Authorized: Unlimited 


(150% of par value of notes outstanding). 
Convertible on any interest date, on 10 days' notice, 
into the 4>£% bonds at 90% . 


" Outstanding: $8,000,000 






Trustee : G. Form : C. 500, 1 ,000 






Hudson Companies 

Three-Year Notes 


5% 
15 Nov., 1913 


An obligation of the company, secured by deposit with 
the Trustee of : 
$2,100,000 Hudson & Manhattan R. R. Co. 1st 4^s. 


Dated: 15 Nov., 1910 Due: 


(150% of par value of notes outstanding). 


Interest Due: May & Nov. 15 






Amount Authorized: Unlimited 






" Outstanding: $1,400,000 






Trustee: G. Form: C. r. 500, 1,000 




Hudson Companies 

Notes 
Dated: 1 Feb., 1912 Due: 
Interest Due : Feb. & Aug. 1 


5% 
1 Feb., 1914 


An obligation of the company, secured by deposit with 
the Trustee of : 

$3,911,000 Hudson & Manhattan R. R. Co. 1st 4>£s. 
(150% of par value of notes outstanding). 


Amount Authorized: Unlimited 






1 ' Outstanding : $2,607,000 






Trustee : G. Form : C. r. 1 ,000 







35 



Public Service and Utility 



Hudson Companies 

Five- Year Secured Notes 



Dated: 1 Aug., 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized: $3,000,000 
'« Outstanding: 1,500,000 
Trustee : G. Form : C. r. 1 ,000 



Due: 1 Aug., 1918 



An obligation of the company, secured by deposit with 

the Trustee of : 

$2,450,000 Greeley Square Realty Co. 1st Ref. 5s. 
1,000,000 (all) " " " Pref. 

1,000,000 " " " " " Com. 

25,000,000 (majority) Hudson & Manhattan R.R. Com. 
The balance of the notes may be issued only to retire, 

and upon deposit with the Trustee of the 1st. Ref. 

Mtge. bonds of the Greeley Square Realty Co. 
The Greeley Square Realty Co. is the owner of the 

Gimbel Store, for which it receives an annual net 

rental of approximately $635,000. 



Indianapolis, New Castle & Eastern 
Traction Co. 

First Mortgage 6fc 



Due: 1 June, 1919 



Dated: 1 June, 1912 
Interest Due : June & Dec. 1 
Amount Authorized: $1,500,000 
" Outstanding: 800,000 

Trustee: Fid. T. Phil. Form: C. r. 1,000 



Interborough-Metropolitan Co. 

Two-Year Secured Notes 6% 

Dated: 22 Dec., 1911 Due: 22 Dec., 1913 

Interest Due: June & Dec. 22 
Amount Authorized: $2,000,000 
" Outstanding: 1,817,000 
Trustee: C. Form: C. 1,000, 5,000, 10,000 



An obligation of the company, secured by a first mort- 
gage on all the property of the company. Of the 
unissued bonds, $600,000, may be issued only for 
betterments, extensions or acquisition of unencumb- 
ered property at 75% of the actual and reasonable 
cost thereof. 

The company has leased its property to the Union 
Traction Co. of Indiana, for 999 years, for a rental of 
the interest on the bonds, 5 % on the Preferred Stock, 
etc. 

Subject to redemption as a whole on any interest day at 
101 y z and interest on 8 weeks' notice. 



Secured by deposit with Messrs. Hallgarten & Co. 

under an agreement of : 

$15,256,74:3 par value New York Railways Co. Cap. 

Stock. 
Subject to redemption at 101 and interest. 



36 



Public Service and Utility 



Interborough-Metropolitan Co. 

Two- Year Extended Notes 



Due: 
Interest Due : Jan. 1 
Amount Authorized : $2,549,400 
" Outstanding: 1,926,025 
Trustee: B. Form: C, 1,000,5,000 



1 Jan., 1914 



Interborough-Metropolitan Co. 



Five-Year Notes 



6% 



Dated: 1 July, 1910 
Interest Due : Jan. & July I 
Amount Authorized: $4,000,000 
Outstanding: 4,000,000 
Trustee: Form: C. 1.000 



Due: 1 July, 1915 



International Traction Co. 

Serial Debentures 



Dated: 1 Feb., 1913 



Due : $50,000 An'ly 
1 Feb., 19 14, to 1923 



Interest Due : Feb. & Aug. 1 
Amount Authorized: $500,000 
" Outstanding: 500,000 
Trustee: Fid. Tr. Buff. Form: C. 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

$8,050,000 Interborough-Metropolitan Co. 3-Year 
Stamped 23.85% paid. 5% Coll. Notes, 
which in turn are secured by the deposit of 
430shares42dSt.&GrandSt.FerryR.R.Co.C/S 
5,028 " Central Crosstown Ry. Co. C/S 
1,570 " Second Ave. R. R. Co. C/S 
4,955 " Electric Storage Battery Co. C/S 
$286,465 Note of Second Ave. R. R. Co. 

500,879 " " Central Crosstown Ry. Co. 
2,204,929 " " 23d St. Ry.Co. 
4,000,000 " " Interborough-Metropolitan Co. 
5,155,934 " " Third Ave. R. R. Co. 



An 



obligation of the company, not specifically secured. 



An obligation of the company, not specifically secured. 
The company operates traction lines in and around 

Buffalo and Niagara. 
Subject to redemption on any interest date at par and 

interest. 



37 



Public Service and Utility 



Kansas City Railway & Light Co. 

Coll. Trust Notes Series A & B 6 r r 



Dated: 20 Aug., 1907 
Interest Due : Mar. & Sept. 1 



Due: I Sept., 1912 



Amount Authorized 



= { 



A $4,125,000 
B 1,375,000 

(A $4, 103,000 
"(B 1375,000 

Trustee : N. Y. T. Form : C. 1 ,000 



Outstanding : 



Kentucky Public Service Co. 

1st & Ref. Mortgage 6% 



Dated: 1 Feb., 1912 Due: 1 Feb., 1922 

Interest Due : Feb. & Aug. 1 
Amount Authorized: $2,000,000 
Outstanding: 649,500 
Trustee: Fid. T. Phila. Form: C. r. 500, 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

$5,781,000 Metropolitan St. Ry. (of Kan.) Demand 
Notes. 
1,008.000 Kansas City Electric Light Co. Demand 

Notes. 
2,977,900 Kansas City Ry. & Lt. Pref. Stock. 
2,695,000 " " " " Com. 

The Sept. 1912 coupons were paid, but the principal is 

still unpaid. 
A committee has been formed for the protection of these 
notes, of which C. M. Travis, 24 Broad St.. is Secre- 
tary, and the New York Trust Co. and Old Colony 
Trust Co. Depositaries. 



An obligation of the company, secured by a first mort- 
gage, subject to $50,500 underlying liens on the 
property of the company. 

Sinking Fund provides for the redemption for 3 years 
beginning 1 Feb., 1914, of 1% of bonds outstanding 
and thereafter l%% annually of bonds outstanding. 

Subject to redemption on any interest date at 102 z 4 and 
interest on 60 davs' notice. 



Louisville Gas & Electric Co. 

Five-Year 1st & Ref. Mortgage 6% 



Dated: 1 July, 1913 Due: 1 July, 1918 

Interest Due : Jan. & July 1 
Amount Authorized: $15,000,000 
Outstanding: 7,500,000 
Trustee : Har. T. S. Chi. Form : C. r. 500, 1 ,000 



An obligation of the company, secured by a first lien on 
the property of the company except for an underly- 
ing lien of $3,121,000 Louisville Lighting Co. 1st 5s 
on the property formerly belonging to that company. 

Subject to redemption 1 July, 1914, or on any interest 
date thereafter, at 101 and interest. 



Public Service and Utility 



Mahoning & Shenango Railway & Light 

1st Consol. Ref. 5fo 



Dated: 1 Nov., 1905 Due: 1 Jan., 1916 

Interest Due : Jan & July 1 
Amount Authorized: $10,000,000 
« * Outstanding : 4,5 1 0,000 
Trustee: N. Y. T. Form : C. r. 1,000 R Int. 



Massachusetts Electric Companies 

Two- Year Coll Tr. Notes 5 % 



Dated: 1 May, 1913 
Interest Due : May & Nov. 1 
Amount Authorized: $3,500,000 
" Outstanding: 3,100,000 
Trustee: O. C. Bos. Form : C. r. 1,000 



Middle West Utilities Co. 

Three-Year Coll. Tr. Notes 



Due: 1 May, 1915 



6% 



Dated: 1 June, 1913 Due: 1 June, 1916 

Interest Due : June & Dec. 1 
Amount Authorized: $3,500,000 
Outstanding: 2,000,000 
Trustee : 111. T. & S. Chi. Form : C. r. 1,000 



An obligation of the company, secured by a direct mort- 
gage upon all the properties of the company owned 
at the date of these bonds, subject to underlying 
liens of approximately $5,500,000, for the retirement 
of which bonds of this issue are reserved, and by the 
pledge of all securities of subsidiaries owned, 
amounting to about $3,750,000 of bonds, $6,440,000 
of stocks. 

Subject to redemption on any interest date at 105 and 
interest on 2 weeks' notice. 

Company owned by the Republic Railway & Light Co. 
and these bonds followed by $2,000,000 of that com- 
pany's note. 



Secured by the deposit with the Trustee of: 
$11,633,000 Bay State Street Ry. Co. C/S. 
($20,517,000 outstanding.) 

The stock deposited to be at all times a majority of 
shares of said company. 

Subject to redemption as a whole on any interest date at 
par plus a premium equivalent to 3j^% income basis 
for the unexpired time, on 30 days' notice. 

The company is a voluntary association formed under the 
laws of Mass. 



An obligation of the company, secured by deposit with 
the Trustee of: 

Bonds of subsidiary companies amounting in aggre- 
gate par value to 33% in excess of notes outstanding. 

Present deposit $2,740,000 par value. 

Subject to redemption on any interest date at par and 
interest on 60 days' notice. 



39 



Public Service and Utility 



Montgomery Light & Traction Co. 



Two-Year Secured Notes 



6% 



Dated: 1 Apr., 1912 Due: 1 Apr., 1914 

Interest Due : Apr. & Oct. 1 
Amount Authorized : $650,000 
" Outstanding: 650,000 
Trustee: G. Form: C. R. 1,000 

Montreal Tramways & Power Co., Ltd. 

Three- Year Coll. Tr. Notes 6°fo 



Dated: 1 Jan., 1912 Due: 1 Jan., 1915 

Interest Due : Jan. & July 1 
Amount Authorized: $1,350,000 
Outstanding: 1,350,000 
Trustee: Na. T. Mon. Form: C. 1,000 

Montreal Tramways & Power Co. 

Three- Year Coll. Tr. Notes 6% 



Dated: 1 Apr., 1912 Due: 1 Apr., 1915 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $5,000,000 
" Outstanding: 5,000,000 
Trustee : B. Form : C. r. 1 ,000 

New Orleans Railway & Light Co. 

Three- Year Debentures 6% 



Dated: 1 June, 1913 Due: 1 June, 1916 

Interest Due : June & Dec. 1 
Amount Authorized: $4,000,000 
Outstanding : 2,500,000 
Trustee : Hib. B. & T. N. O. Form : C. r. 500, 1 ,000 



An obligation of the company, secured by deposit with 
the Trustee of: 

$1,000,000 (all outstanding), 1st Ref. 5s of the Mont- 
gomery Lt. & Traction Co., which are a first lien, 
subject to $350,000 underlying liens, on all the 
property of the company. 

Subject to redemption on any interest date at 101 and 
interest on 30 days' notice. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$1,800,000 Canadian Light & Power Co. 1st 5s. 
Convertible at 93, interest, on 1 July, 1914, into the 

above Canadian Light & Power bonds. 
Subject to redemption on any interest date prior to 1 

July, 1914, at 100 X and interest. 



An obligation of the company, secured by deposit with 
the Trustee of: 

$6,000,000 Montreal Tramways Co. Mtge. Deb. Stock. 
1,040,000 (of $2,000,000) " Com. 
3,900,000 (of 6,000,000) Canadian Lt. & Power Co. 
Com. 
87, 500 (of $125,000) Saraquay Electric & Water Co. 
Subject to redemption in amounts of not less than 
$100,000, on any interest date at 100^ and interest. 

An obligation of the company, not specifically secured. 

The company covenants not to create any new mortgage 
without securing these notes equally therewith and 
not to issue further bonds (except $1,975,000 Ref. & 
Ext. 5s) without the consent of ^ of these notes. 

Guaranteed as to principal and interest by American 
Cities Co. 

Subject to redemption on any interest date at 101 and 
interest upon 5 weeks' notice. 



40 



Public Service and Utility 



Northern Ohio Traction Co. 

Serial Secured Notes 



d°/o 



$100,000 annually 1 Nov., 1912 to 1914 

1915 to 1918 



Dated: 1 May, 1909 

Due: | 150,000 
Interest Due : F-M-A-N 1 
Amount Authorized: $1,000,000 
" Outstanding: 900,000 
Trustee : Ci. S. & T. Cleve. Form : C. 1,000 



Northern States Power Co. 

Five- Year Coll. Tr. Notes 



Dated: 1 June, 1912 
Interest Due : June & Dec. 1 
Amount Authorized: $5,000,000 
Outstanding: 5,000,000 
Trustee: G. Form: C. r. 1,000 



Due: 1 June, 1917 



Northern Texas Electric Co. 

Three-Year Mortgage Notes b°Jo 

Dated: 1 May, 1911 Due: 1 May, 1914 

Interest Due : May & Nov. 1 
Amount Authorized: $1,000,000 
Outstanding: 1,000,000 
Trustee: Com. Bos. Form: C. 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

$1,000,000 Northern Ohio Traction & Light Co. 1st 
Consol. 4s. 
700,000 Canton- Akron Consolidated Ry. Co. Consol 

5s. 
200,000 Akron, Wadsworth & Western Traction 
Co. 1st. 5s. 
Subject to redemption on any interest date at 102 and 
interest in inverse order of maturities and serial 
numbers. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$5,000,000 Consumers Power Co. Gen'l 5s. 
1,000,000 Minneapolis General Electric Co. Pref. 

Stock. 
3,375,000 Minneapolis General Electric Co. Com. 
Stock. 
Guaranteed principal and interest by the Consumers 
Power Co., whose entire Capital Stock is owned by 
the Northern States Power Co. , of whose outstanding 
Capital stock, something less than 20%, is owned by 
the Standard Gas & Electric Co. 
Subject to redemption as a whole on any interest date 
before 1 June, 1914, at 102 and interest, and after 
that date at 101 and interest on 60 days' notice. 



An obligation of the company, secured by a first mort- 
gage on the property of the Fort Worth Southern 
Traction Co. , operating an electric interurban railway 
of about 28 miles between Fort Worth and Cleburne, 
Tex. 

Subject to redemption as a whole on any interest date 
at 101 and interest. 



4i 



Public Service and Utility 



Northwestern Gas Light & Coke Co. 



Five-Year Notes 



5% 



Dated: 3 Sept., 1912 Due: 1 Sept, 1917 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $4,500,000 
" Outstanding: 3,500,000 
Trustee : 111. T. & S. Chi. Form : C. r. 1,000 



Oklahoma Gas & Electric Co. 

Ten-Year Debentures 6% 

Dated: 1 Oct., 1912 Due: 1 Oct., 1922 

Interest Due : Apr. & Oct. 1 
Amount Authorized : $3,000,000 
" Outstanding: 300,000 
Trustee : C. &. C. Chi. Form : C. r. 500 



Pacific Light & Power Corp. 

One- Year Coll. Guaranteed Notes 6% 



Due: 1 May, 1914 



Dated: 1 May, 1913 
Interest Due : May & Nov. 1 
Amount Authorized : $5,000,000 
" Outstanding: 2,500,000 
Trustee : U. S. M. & T. Form : C. 1,000 



An obligation of the company, not specifically secured. 

The company covenants not to increase the present 
mortgage indebtedness or create any new mortgage, 
nor to effect a sale of the property without securing 
these notes by a lien satisfactory to the Trustee, 
nor to allow the floating debt to exceed $500,000. 
The underlying liens amount to $5,870,000. 

Subject to redemption as a whole on any interest date 
before 1 Sept., 1915, at 101 and interest, and after 
1 Sept., 1915, at par and interest 



An obligation of the company, not specifically secured. 
The company covenants not to create any further prior 

lien without securing these notes equally therewith. 
Subject to redemption on any interest date at 101 and 

interest on 6 weeks' notice. 



An obligation of the company, secured by deposit with 
the Trustee of: 

$1,650,000 Los Angeles Ry. Corp. 1st Ref. 5s. 
1,000.000 Pacific Electric Ry. Co. Ref. 5s. 
700,000 Pacific Light & Power Corp. 1st Ref. 5s. 

The agreement provides that the collateral deposited 
must at prices fixed be 25% in excess of notes out- 
standing and not more than 50 % in any one issue. 

Guaranteed principal and interest by Henry E. 
Huntington. 

Subject to redemption at any time at 100^ and interest 
on 30 days' notice. 



42 



Public Service and Utility 



Pacific Light & Power Corp. 

Five- Year Coll. Mtge. Notes 



Dated: I July, 1910 
Interest Due : Jan and July 1 
Amount Authorized : $3,000,000 
" Outstanding: 2,388,000 
Trustee : E. Form : C. r. 1,000 



Philadelphia Co. 

Two- Year Convertible Notes 



6% 
Due: 1 July, 1915 



Dated: 1 May, 1911 

Due : By Extension 1 May, 1914 
Interest Due : May & Nov. 1 
Amount Authorized : $ 1 ,400,000 
Outstanding: 1,400,000 
Trustee : N. Y. T. Form : C. 5,000 

Philadelphia Co. 

Ten-Year Convertible Debentures 5% 



Dated: 2 Aug., 1909 Due: 1 Aug., 1919 

Interest Due : Feb. & Aug. 1 
Amount Authorized : $5,000,000 
« ' Outstanding : 1 ,95 7,000 
Trustee : N. Y. T. Form : C. r. 1,000 

Philadelphia Co. 

Ten- Year Convertible Debentures 5°/o 
Dated: 1 May, 1912 Due: 1 May, 1922 

Interest Due : May & Nov. 1 
Amount Authorized : $10,000,000 
" Outstanding: 9,818,000 
Trustee: N. Y. T. Form: C. r. 1,000 

(or £ Equivalent) 



An obligation of the company, secured by deposit with 
the Trustee of : 

$3,405,000 (all) Southern California Gas Co. 1st 6s, 
and by a lien equally with the $10,000,000 bonds 
issued under the 1st and Ref. Mortgage upon the 
property of the company, subject to $8,344,000 
underlying liens. 

Convertible on any interest date into 1st mortgage bonds 
of Southern California Gas Co., taking either 6% 
bonds at par or 5 % bonds at 90 . 

Subject to redemption on any interest date at 102^ and 
interest. 



An obligation of the company, not specifically secured. 
Convertible at any time into Common Stock of the 
company at par ($50) . 



An obligation of the company, not specifically secured. 
The company covenants that while these debentures are 

outstanding it will not create any new mortgage 

without securing these notes equally therewith. 
Convertible at any time into Common Stock of the 

company at par ($50). 
Subject to redemption at any time at 102^ and interest 

upon 60 days' notice. 

An obligation of the company, not specifically secured. 
The company covenants that it will not place any new 

mortgage on its property without securing these 

notes equally therewith. 
Convertible at any time after 31 January, 1913, into 6% 

Cumulative Preferred Stock of the company at par. 
Subject to redemption on any interest date at 102^ and 

interest on 45 days' notice. 



43 



Public Service and Utility 



Portland R. R. Co. (of Maine) 

Five- Year Notes 4>£% 



Dated: 1 Dec., 1911 Due: 1 Dec., 1916 

Interest Due : June & Dec. 1 
Amount Authorized : $600,000 
" Outstanding: 450,000 
Trustee: Un. S. D. & T. Port. Form : C. r. 1,000 

Portland Railway, Light & Power Co. 

Two-Year Secured Notes Series D 5 °/o 



Dated: 1 May, 1912 Due: 1 May, 1914 

Interest Due : May & Nov. 1 
Amount Authorized : $5,000,000 
Outstanding: 5,000,000 
Trustee: G. Form : C. 1,000, 5,000, 10,000 

Public Service Co. of No. Illinois 

Three- Year Convertible Collateral Notes 6% 



Due: 1 July, 1916 



Dated: 1 July, 1913 
Interest Due : Jan. & July 1 
Amount Authorized: $3,500,000 
Outstanding: 2,500,000 
Trustee: 111. T. & S. Chi. Form: C. i. 100, 500, 

1,000 



Public Utilities Co. 

Three- Year Notes 



Dated: 1 Mar., 1913 
Interest Due : Mar. & Sept. 1 
Amount Authorized: $1,615,000 
Outstanding: 1,575,000 
Trustee: G. Form: C. 5,000 



6% 
Due: 1 Mar., 1916 



An obligation of the company, not specifically secured. 

The company covenants that it will not create any addi- 
tional mortgage debt without including these notes 
equally therewith. 

Subject to redemption on 1 Dec, 1914, or any interest 
date thereafter, at par and interest. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$5,000,000 Mt. Hood Railway & Power 1st. Mtge. 
49,700 (all except Directors shares) Mt. Hood 
Railway & Power C/S 
Subject to redemption as a whole at any time after 1 
Nov., 1912, at par and interest on 60 days' notice. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$3,125,000 Public Service Co. of No. Illinois 1st & 
Ref. Mtge. 5s. 
Subject to redemption as a whole on any interest date 

at 100 1 / 2 and interest. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$817,000 Public Utilities Co. 1st & Ref. 5s. 
1,159,000 Kvansville & Southern Indiana Traction 
Co. 1st Cons. 5s. 
Subject to redemption on any interest date at par and 
interest on 3 weeks' notice. 



44 



Public Service and Utility 



Public Utilities Corp. 

Serial Collateral Trust Notes 



6% 



Dated: 1 May, 1911 

( 1 May, 1914, $150,000, Nos. 1 to 150 

Due:-M " 1915, 1 50,000, Nos. 1 5 1 to 300 

( 1 "1916, 200,000, Nos. 301 to 500 

Interest Due : May & Nov. 1 

Amount Authorized: $500,000 

" Outstanding: 500,000 

Trustee: O. C. Bos. Form: C. r. 1,000 



Public Utilities Corp. 

i Ten-Year Secured Notes 



6% 



Dated: 1 Apr., 1912 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $500,000 
11 Outstanding: 500,000 
Trustee: O. C. Bos. Form: C. r. 1,000 



Due: 1 Apr., 1922 



An obligation of the company, secured by deposit with 
the Trustee of: 

$50,000 Cleveland Electric Illuminating Co. Com. 
50,000 National Carbon Co. Com. 
100,000 Oklahoma Gas & Electric Co. Com. 
60,000 Washington Water Power Co. C/S 
100,000 American Light & Power Co. Vot. Tr. Certs. 
Com. 
50,000 Detroit Edison Co. C/S 
100,000 Northern Idaho & Montana Power Co. Pref. 
87,500 Standard Gas & Electric Co. Pref. 
75,000 Consolidated Gas, Electric Light & Power 
Co. of Bait. Com. 
The company covenants that it will, by the deposit if 
necessary of additional collateral, maintain the 
market value of the collateral at 125% of the notes 
outstanding, with the right of substitution. 
Subject to redemption on any interest date at 102>£ and 
interest on 4 weeks' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$100,000 Buffalo General Electric Co. C/S 
100,000 Butte Electric & Power Co. Com. 
100,000 Pacific Gas & Electric Co. Com. 
50,000 American Gas & Electric Co. Vot. Tr. Certs. 

for Com. 
100,000 Appalachian Power Co. Pref. 
50,000 Philadelphia Electric Co. C/S 60% Paid. 
100,000 Southern California Edison Co. Com. 
100,000 American Power & Light Co. Vot. Tr. Certs. 

for Com. 
80,000 Helena Light & Ry. Co. Com. 
The company covenants that the market value of the 
collateral will be maintained at 125% of the notes 
outstanding, by the deposit of additional collateral 
if necessary, with the right of substitution. 
Subject to redemption on any interest date at 102)4 and 
interest on 4 weeks' notice. 



45 



Public Service and Utility 



Puget Sound TractionLight & Power Co. 

Two-Year Mortgage Notes 5 -: 



Dated: 1 Feb., 1912 
Interest Due : Feb. & Aug. 1 
Amount Authorized: $12,000,000 
Outstanding : 8,000,000 
Trustee: O. C. Bos. Form: C. r. 1,000 



Due: 1 Feb., 1914 



Republic Railway & Light Co. 

Secured Notes 5 "-': 



Due: 1 Jan., 1916 



Dated: 1 Apr., 1912 
Interest Due : Jan. & July 1 
Amount Authorized: $5,000,000 
Outstanding: 2,600,000 
Trustee: Bklyn. T. Form: C. r. 1,000 



Richmond (Ind. ) Light, Heat & Power 
Co. 

Three- Year Notes 6% 

Due: 15 Mar., 1914 



Dated: 15 Mar., 1911 
Interest Due: Mar. & Sept. 15 
Amount Authorized: $500,000 
" Outstanding: 500,000 

Trustee : Pa. Co. I. L. & G. A. Phil 



Form : C. r. 
1,000 R. Int. 



An obligation of the company secured by pledge of : 
34,700 shares Seattle Electric Co. Pref.', of which 24.561 
shares are subject to the mortgage of the 
Pacific Coast Power Co. 
59,684 shares Seattle ElectricCo. Com. ,of which 49,441 
shares are subject to the mortgage of the 
Pacific Coast Power Co. 
8,478 shares Pref. Whatcom County Railway & 

Light Co. 
6.676 " " " ; < Com. 

10.250 " Pref. Puget Sound Electric Ry. Co. 
32,804 " Com. 

and also by a mortgage lien, subject to $1,833,000 
underlying liens, on the property formerly of the 
Seattle. Tacoma Power Co. , and subject to underlying 
liens of §4.000, COO on the property formerly of the 
Pacific Coast Power Co. 
Subject to redemption as a whole, on the 1st of any 
month, at 101 and interest on 4 weeks' notice. 

An obligation of the company, secured by deposit with 
the Trustee of: 

$4, 735 , 400 Mahoning & Shenango Ry. & Light Co. 
Pref. 
5,850.950 Mahoning & Shenango Ry. & Light Com. 
400,000 Pennsylvania Power Co. C S 
153,000 " " " 1st 5s. 

501,000 Republic Construction Co. C/S 
500,000 " '« " 1st Mtge. 5s. 

Subject to redemption at any time at par and interest 
on 30 days' notice. 

An obligation of the company, not specifically secured. 
The company covenants that it will not create any new 

mortgage without making provision for these notes 

thereunder. 
Guaranteed as to principal and interest by the L'nited 

Gas & Electric Co. of N. J. 
Subject to redemption as a whole on any interest day at 

par and interest on 30 days' notice. 



46 



Public Service and Utility 



Scranton Railway Co. 

Ten- Year Gen'l Mortgage 



Due 



5% 
I Nov., 1920 



Dated: 1 Nov., 1910 
Interest Due : May & Nov. 1 
Amount Authorized : $ 1 ,000,000 
" Outstanding: 1,000,000 
Trustee : Eq. Phil. Form : C. r. 1,000 

Seattle Lighting Co. 

Ten-Year Debenture 6% 

Dated: 1 Jan., 1910 Due: 1 Jan., 1920 

Interest Due : Jan. & July 1 
Amount Authorized : $2,000,000 
Outstanding: 1,294,000 
Trustee : Form : C. r. 1 ,000 

Second Ave. R. R. Co. (of New York) 

One- Year Receivers' Certs. 5% 



Dated: 1 Oct., 1912 
Interest Due : Apr. & Oct. 1 
Amount Authorized : $3,200,000 
" Outstanding: 3,140,000 
Trustee : Form : C. 1000 

Sierras Construction Co. 

Serial Collateral Trust Notes 



Due: 1 Oct., 1913 



6% 



Dated 



1 Sept., 1911 

ni1p . / $50,000 Monthly from 
UUe 'll Aug., 1913, to 1 July, 1914 

Amount Authorized: $600,000 

" Outstanding: 600,000 

Trustee : Int. T. Den. Form : C. 500 



An obligation of the company, secured by a general 
mortgage on the property of the company, subject to 
about $4,000,000 underlying liens. 

Subject to redemption on any interest date at 102 and 
interest. 



An obligation of the company, not specifically secured. 
The company covenants not to place any new issue of 

mortgage bonds or debentures on the property while 

these notes are outstanding. 
Subject to redemption on any interest date at 101 and 

interest. 



Issued under order of the Supreme Court of New York, 
and are a first lien upon the property of the company, 
which operates about 25 miles of electric street R. R. 
in New York City. No further certificates can be 
issued unless subordinated to this issue. 

Subject to redemption after 1 April, 1913, at par and 
interest. 



An obligation of the company, secured by the deposit 
with the Trustee of : 
$800,000 Southern Sierras Power Co. 1st Mortgage 6s. 

Guaranteed as to principal and interest by the Nevada- 
California Power Co. 



47 



Public Service and Utility 



Southern California Edison Co. 

Five-Year Debenture t°fo 

Dated: 1 Apr., 1911 Due : I Apr., 1916 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $1,000,000 
" Outstanding: 332,000 

Trustee: Los A. T.& S.Los An. Form: C. r. 1,000 



Southern Utilities Co. 

One-Year Collateral Notes 



6% 



Dated: 1 July, 1913 
Interest Due : Jan. & July 1 
Amount Authorized : $500,000 
" Outstanding: 500,000 
Trustee : G. Form : C. r. 1,000 

Standard Gas & Electric Co. 

Serial Collateral Trust Notes 



Due: 1 July, 1914 



Dated : 2 June, 1913 Due: 1 June 
Interest Due : June & Dec. 1 



6% 

1914, $500,000 

1915, 500,000 
1916,2,000,000 



Amount Authorized : 

' ' Outstanding : 

Trustee : C. &. C. Chi. 



$3,000,000 
3,000,000 
Form: C. 100,500, 1,000 



An obligation of the company, not specifically secured. 
The company covenants that it will not place any new 

mortgage upon its property without securing these 

debentures equally. 
Convertible at any time into Common Stock of the 

company at par. 
Subject to redemption on any interest date at 101 and 

interest. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$750,000 Southern Utilities Co. 1st Mtge. 5s. 
Subject to redemption at any time at 101 and interest 

on 60 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$232,100 Western States Gas & Electric Co. Note. 
108,900 " " " " " Pref. 

276,000 San Diego Consolidated Gas & Electric Co. 

Notes. 
157,700 San Diego 

Com. 
300,000 Fort Smith Light & Traction Debentures. 
65,000 Enid Electric & Gas Co. Notes. 
1,750,000 Louisville Gas & Electric Co. Pref. 
850,000 " " " " Com. 
1,300,000 Mississippi Valley Gas & Electric Co. Pref. 
109,000 Northern States Power Co. Pref. 
125,000 Arkansas Valley Lt. & Power Co. Pref. 
171,000 Oklahoma Gas & Electric Co. Com. 
350,000 Cash Exchangeable for Securities. 
Subject to redemption — the 1914 maturity at par and in- 
terest, the 1915 maturity at 100 >£ and interest prior 
to 1 June, 1914, and par thereafter; the 1916 maturity 
at 101 and interest prior to 1 June, 1915, and par and 
interest thereafter ; upon 30 days' notice. 



48 



Public Service and Utility 



Toledo Traction, Light & Power Co. 

Five- Year 1st Lien 6% 



Dated: 1 Feb.. 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized : $7,500,000 
" Outstanding: 6,000,000 
Trustee : N. Y. T. Form : C. r. 1,000 



Due: 1 Feb., 1918 



Union Railway Gas & Electric Co. 

Three- Year Notes Series A b°Jo 



Dated: 1 Mar., 1913 
Interest Due: Mar. & Sept. 1 
Amount Authorized : $4,000,000 
11 Outstanding: 1,500,000 
Trustee: B. Form: C. r. 5,000 



Due: 1 Mar., 1916 



An obligation of the company, secured by the deposit 
with the Trustee of : 

$5,988,000 Toledo Traction Co. Consol. 1st 5s. 
5,650,000 Toledo Rys. & Light Co. Consol. 1st 4s. 
500,000 Maumee Valley Rys. & Light Co. 1st 4>£s. 
450,000 Toledo, Ottawa Beach & Northern Ry. Co. 

1st 5s. 
500,000 Toledo & Western Ry. Co. 1st Consol. & 
Ref. 5s. 
75,000 Adrian Street Ry. Co. 1st 5s. 
117,447 shs. Toledo Rys. & Light Co. C/S 
9,990 " Maumee Valley Rys. & Light Co. C/S 
19,990 " Toledo & Western R. R. Co. C/S 
14,990 " Toledo, Ottawa Beach & Northern 
Ry. Co. C/S 
290 " Adrian Street Ry. Co. C/S 
Subject to redemption on any interest date at 101 and 
interest. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$1,200,000 Union Ry. Gas & E. Co. Coll. Tr. 5s. 
400,000 Springfield Ry. & Light Co. Coll. Tr. 5s. 
200,000 DeKalb, Sycamore & Interurban Traction 

Co. 1st. Lien & Ref. 5s. 
100,000 Rockford & Interurban Ry. Co. 1st 5s. 
100,000 Evansville Public Service Co. 1st 6s. 
Additional notes may be issued only at the rate of 75% 
in amount of bonds, of the above companies or a new 
company formed to acquire the Farmington Light 
& Power Co., deposited. 
Subject to redemption as a whole on any interest date at 
par and interest on 30 days' notice. 



49 



Public Service and Utility 



United Gas & Electric Corp. 

Three-Year Convertible Secured Notes 



Dated: 1 Apr., 1912 Due: 

Interest Due : Apr. & Oct. 1 
Amount Authorized : $7,500,000 
" Outstanding: 7,500,000 
Trustee: C. Form: C. 1,000 



5% 
1 Apr., 1915 



United Light & Power Co. (of N. J.) 

Three- Year Coll. Tr. Guaranteed Notes 6% 



Dated: 1 Dec, 1911 



Due: 1 Dec, 1914 



Interest Due : June & Dec. 1 
Amount Authorized: $3,000,000 
" Outstanding: 2,150,000 
Trustee: B. Form: C. 1,000 



United Railways & Electric Co. of 
Baltimore 

Three- Year Coll. Tr. Conv. Notes 5% 



Dated: 15 July, 1911 Due: 15 July, 1914 j 

Interest Due : Jan. & July 15 
Amount Authorized : $3,125,000 
Outstanding: 840,600 
Trustee: S.D.&T.Balt. Form: C. 100,500,1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 
$40,200 The Tractional Co. Com. C/S 
892,700 The International Tractional Co. Com. C/S. 
1,000,000 Consumers Electric Lt. & Power Co. Com. 

C/S 
1,500,000 Houston Gas & Fuel Co. Com. C/S 

700,000 Harrisburg Electric Service Co. Pref. 
2,000,000 " " " " Com. 

3,568,800 United Gas & Electric Co. Com. 
1,209,250 Lancaster County Ry. & Lt. Co. C/S. 
Convertible after 1 April, 1914, into the Preferred Stock 
of the company, which is 7% Cumulative after 1 
April, 1915, at par. 

An obligation of the company, secured by deposit with 
the Trustee of : 

$2,689,000 United Light & Power Co. of Cal., Gen'l 
Mtge. 6s. 
1,500,000 " " " " Pref. 

3,000,000 " " " " Com. 

Guaranteed principal and interest by the United Prop- 
erties Co. of Cal. 
Subject to redemption on any interest date at 102 and 

interest on 4 weeks' notice. 
The coupon due 1 June, 1913, was not paid and the 
United Properties Co. is now undergoing a reorgan- 
ization. 

An obligation of the company, secured by deposit with 

the Trustee of : 

$672,840 United Rys. & El. Co. 1st. Consol. 4s. 
Convertible up to 2 Jan., 1914, into Common Stock of 

the company at $25 per share (par $50). 5 days' 

notice of intention to convert must be given. 
Subject to redemption at any time at par and interest on 

60 days' notice. 



5o 



Public Service and Utility 



United States Public Service 

Five-Year Coll. Tr. Notes 



Due: 



Dated: 1 Apr., 1913 
Interest Due : Apr. & Oct. 1 
Amount Authorized : $ 1 ,200,000 
" Outstanding: 1,200,000 
Trustee: G. Form: C. 1.000 



Co. 

6% 
1 Apr., 1918 



Utah Securities Corp. 

Ten- Year Notes 



6% 



Dated : 1 5 Sept., 1912 Due : 1 5 Sept., 1 922 

Interest Due : Mar. & Sept. 1 5 
Amount Authorized: $30,000,000 
" Outstanding: 17,975,000 
Trustee : G. Form : C. r. 500, 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 
$50,000 Danville lit. Power & Traction Co. 1st 6s. 

55,000 Paris Gas & Electric Co. C/S 
999,700 Missouri Public Utilities Co. C/S 
50,000 Dansville Lt., P. & Traction Co. C/S 
34,500 Monmouth Public Service Co. Pref. 
460,000 " " " " Com. 

83,700 Ravenna Gas & Electric Light Co. C/S 
200,000 Oberlin Gas & Electric Co. Com. 
160,000 Mitchell Power Co. C/S 
160,000 " " " IstMtge. 6s. 

304,900 Monmouth Public Service Co. Cons. 5s. 
587,496 " " " "6% Notes. 

85,000 Oberlin Gas & Electric Co. 1st. Cons. 6s. 

6,000 " " " " 6% Note. 

15,000 Cape Girardean Water Works & Electric 

Light Co. 1st 5s. 
41,071 Cape Girardean Water Works & Electric 

Light Co. 6% Notes. 
60,000 Missouri Public Utilities 1st 5s. 
1,712.50 Paris Gas & Electric Co. 6% Notes. 
12,283.34 Mitchell Power Co. 6% Notes. 
Subject to redemption, in lots of not less than $100,000, 
on any interest date at 101 and interest on 4 weeks' 
notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$5,000,000 Utah Power & Light Co. 3-Year 6% Notes. 
24,998,500 " " " " Com. 

7,837,000 " " " " 2d Pref. 

3,000,000 " " " " Pref. 

9,591,000 Beaver River Power Co. C/S 

904,765 Utah Power & Light Co. Demand Notes. 
1,783,000 Utah Power Co. 



5i 



Public Service and Utility 



Westchester Lighting Co. 

Ten-Year Coll. Tr. Notes 



5% 



Dated: 1 Dec., 1910 Due: 1 Dec., 1920 

Interest Due : June & Dec. 1 
Amount Authorized: $580,000 
Outstanding: 580,000 
Trustee : C. K. Form : C. r. 1,000 

Western United Gas & Electric Co. 

Serial Debentures 6% 



Dated: 1 Feb., 1911 

-. 3 $75,000 1 Feb. & 1 Aug. 1913 

Due: } 50,000 S. A. 1 Feb., 1914 to 1 Feb.. 1918 

Interest Due : Feb. & Aug. 1 

Amount Authorized: $600,000 

" Outstanding: 525,000 

Trustee : F. T. & S. Chi. Form : C. 500, 1,000 



West Virginia Traction & Electric Co. 

Three- Year Secured Convertible Notes 5% 



Dated: 1 July, 1912 
Interest Due : Jan. & July 1 
Amount Authorized: $1,250,000 
" Outstanding: 1,250,000 
Trustee : E. Form : C. r. 1 ,000 



Due: 1 July, 1915 



An obligation of the company, secured by deposit with 
the Trustee of : 

$804,000 (all) Northern Westchester Lighting Co.C/S 
75,000 (all) Peekskill Lighting & R. R. Co. Pref. 
500,000 (all) " " " " Com. 

A subsidiary of Consolidated Gas Co. , which owns all of 
its outstanding stock. 



An obligation of the company, not specifically secured. 

The company covenants (1) that it will not sell its prop- 
erty or franchise or consolidate without the consent 
of 75% of the debentures. That while any of these 
notes are outstanding it will maintain quick assets of 
at least $100,000 more than liabilities, and that it 
will not place any mortgage or lien upon the property 
without the consent of 75% of the debentures. 

Subject to redemption on any interest date at 102 and 
interest on 30 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 
$1,565,000 1st. Ref. & Ext. 6s of the company. 

Convertible at maturity into the 1st Ref. & Ext. Mtge. 
6% bonds of the company at par upon 80 days pre- 
vious notice to the Trustee. 

Subject to redemption at any time at 102 and interest 
on 90 days' notice. 



52 



Industrial 



Agricultural Credit Co. 

Collateral Trust Notes 
Dated: 1 Feb., 1913~ 

Due : Series 



5% 



1 Dec, 1913 
1 Dec., 1914 
1 Dec, 1915 



Interest Due : June & Dec. 1 

Amount Authorized : Unlimited! 

I A, $3,000,000 

' ' Outstanding : 1 B. 1 ,800,000 

(C, 1,200,000 

Trustee : F. T. &. S. Chi. Form : C. 500, 1,000 

Amalgamated Copper Co. 

Two- Year Notes 5% 



Dated: 15 Mar., 1913 Due: 15 Mar., 1915 

Interest Due : Mar. & Sept. 1 5 
Amount Authorized : $12,500,000 
" Outstanding: 12,500,000 
Trustee : Nat. City N. Y. Form : C. 1,000 



American Bank Note Co 

Three-Year Notes 
Dated: 1 Mar 



5% 
Due: 1 Mar. 1916 



1913 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $ 1 ,000,000 
" Outstanding: 1,000,000 
Trustee: B. Form: C. 1,000 

American Caramel Co. 

1st Mortgage S/F Bonds 
Dated: 1 June, 1910 Due: 1 Ji 

Interest Due : June & Dec 1 



6% 

:, 1920 



Amount Authorized : 

" Outstanding: 

Trustee : Ind. T. Prov. 



$600,000 
325,000 
Form: C. 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

Farmers notes for agricultural machines purchased, 
equivalent, at their maturity value to 120% of the 
par value of notes outstanding, acquired by the 
Agricultural Credit Co. from the vendor of such note, 
under an agreement guaranteeing that the note was 
properly made, and that the vendor will repurchase 
it if not paid within 60 days after maturity. 

Subject to redemption at par and interest plus a pre- 
mium of 1/12% per month from the date of redemp- 
tion to maturity. 

An obligation of the company, not specifically secured. 
The company has no funded debt other than this issue, 

and it covenants that it will not create any other 

lien or charge upon its assets so long as any of these 

notes are outstanding. 
Subject to redemption at 101 and interest on 3 weeks' 

notice. 



An obligation of the company, not specifically secured. 
The company covenants that it will not mortgage its 

property while any of these notes are outstanding. 
Subject to redemption as a whole at par and interest. 



An obligation of the company, secured by a first lien 
upon the real estate and other assets of the company. 



53 



Industrial 



American Coal Products Co. 

Three-Year Notes 



6% 



Dated: 1 July, 1913 
Interest Due : Jan. & July 1 
Amount Authorized : $2,000,000 
11 Outstanding: 2,000,000 
Trustee: G. Form: C r. 1,000 

American Cotton Oil Co. 

Debentures 



Due: 1 July, 1916 



4y 2 <7o 



Dated: 1900 & 1901 Due: 1 Nov., 1915 

Interest Due : May & Nov. 1 
Amount Authorized : $5,000,000 
" Outstanding: 5,000,000 
Trustee : Wins.-Lan. & Co. N. Y. Form : C. 1 ,000 



American Locomotive Co. 

Notes 
Dated: 1 Oct. 



1909 
Due: | 



1 Oct., 
I Oct., 



5% 

1913, $2,000,000 

1914, 2,000,000 



Amount Authorized : $5,000,000 

Outstanding: 4,000,000 

Trustee: Form: C. 1,000 

American Locomotive Co. 

Notes 
Dated: 1 July, 1912 

Due 



5% 



. ($1,600,000 annually 
• tl July. 1915, 1916, 1917 



Interest Due : Jan. & July 1 
Amount Authorized : $6,000,000 
" Outstanding: 4,800,000 
Trustee : Form : C. r. 1 ,000 



An obligation of the company, not specifically secured. 
Subject to redemption on any interest date at par and 
interest on 30 days' notice. 



An obligation of the company, not specifically secured. 

The company has no mortgage debt. These notes rank 
equally with $5,000,000 5% Debentures due 1913, and 
the company covenants not to mortgage its property 
without the consent of 80% in amount of the de- 
bentures outstanding. 

Subject to redemption at 110% on any interest date on 
60 days' notice. 



An obligation of the company, not specifically secured. 
The company has no mortgage debt of its own, but has 

underlying mortgages on controlled companies 

amounting to about $5,000,000. 
The company covenants not to place any mortgage on 

its plants while these notes are outstanding without 

providing for their payment. 



An obligation of the company, not specifically secured. 

The company has no mortgage debt of its own but has 
underlying mortgages on controlled companies 
amounting to about $5,000,000. The company cov- 
enants that it will not mortgage its property while 
these notes are outstanding without providing for 
their payment. 

Subject to redemption at 102 on any interest date on 4 
weeks' notice. 



54 



Industrial 



American Pipe & Construction 
Securities Co. 

Collateral Trust 6#> 



Dated: 1 Aug., 1912 
Interest Due : Feb. & Aug. 1 
Amount Authorized: $3,000,000 
" Outstanding: 2,960,000 
Trustee: Gir. Phil. Form: C. r. 1,000 



Due: 1 Aug., 1922 



American Rolling Mill Co. 



Notes 



5% 



Dated: 15 Mar., 1912 



Due . ($375,000, S/A 

^ ue ' {Mar. & Sept. 15, 1914, & 1915 

Amount Authorized : $1,500,000 

" Outstanding: 1,500,000 

Trustee : C. & C. Chi. Form : C. 1,000, 5,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

$325,000 Charleston Light & Water Co. 1st 5s. 
233,800 Clayton Glassboro Water Co. 1st 5s. 
148,000 Collingswood Sewerage Co. 1st 5s. 
490,000 Consolidated Water Co. 1st 5s. 
300,000 Cortlandt Water Co. 1st 5s. 
250,000 East Jersey Coast Water Co. 1st 4 fa. 
130,000 New York Interurban Water Co. 1st 5s. 
622,000 Paris Mountain Water Co. Gen'l 4>£s. 
440,000 Rochester & Lake Ontario Water Co. 1st 5s. 
112,000 Selma Lighting Co. Gen'l 5s. 
20,000 Selma Lighting Co. 1st 5s. 
1,142,000 Springfield Consolidated Water Co. 1st 5s. 
651,000 Syracuse Suburban Water Co. 1st 5s. 
178,000 Texarkana Water Corp. 1st 5s. 
111,000 Texarkana Water Corp. Con sol. 5s. 
201,000 Vermont Power & Mfg. Co. 1st 5s. 
108,000 Vermont Power & Mfg. Co. 30-Year 5s. 
232,000 Wayne Sewerage Co. 1st 5s. 
790,000 Western New York Water Co. 1st & Ref.5s. 
36,000 Westville & Newbold Water Co. 1st 4>^s. 
432,000 Wildwood Water Works Co. 1st 5s. 
Sinking Fund, $150,000, par value of bonds, shall be 
retired annually, beginning 1913, Aug. 1, at not ex- 
ceeding 102J£%. 
Subject to redemption at 102 )/ z and interest on 3 weeks' 
notice. 

An obligation of the company, not specifically secured. 

The company covenants that it will not place any mort- 
gage upon its property unless such mortgage shall be 
subordinated to these notes, and that it will maintain 
quick assets 40% in excess of its debts and obligations. 

Subject to redemption at 101 and interest on 60 days' 
notice. 



55 



Industrial 



Associated Simmons Hardware Co. 

Collateral Trust Notes b°fo 



Dated J2 Oct., 1911 
Dated> 1 1 Jan., 1912 



Due: 1 Jan., 1917 



Interest Due : Jan. & July 
Amount Authorized : $6,000,000 
" Outstanding: 5,000,000 
Trustee : U. S. M. & T. Form : C. r. 1,000 



Atlas Powder Co. 

Income Debentures 6% 

Dated: 2 Jan., 1914 Due: 1 Feb., 1923 

Interest Due : Feb., & Aug. 1 
Amount Authorized: $3,000, 000 
" Outstanding: 3,000,000 
Trustee: G. Form: C. r. 1,000; R. 100, 1,000 



An obligation of the company, secured by deposit with 
the Trustee of: 
13,409 shares Simmons Hardware Co. (of St. Louis) 

1st Pref. 
18,789 shares 

2d Pref. 
13,862 shares 
Com. 
15 (of 20) Hardware Distributors Co. 
35,000,000 Simmons Hardware Co.G% Demand Notes, 
secured by 

$2,660,000 Hardware Distributors Co. Coll. Tr. 5s, 
secured by the pledge of shares acquired of various 
controlled or associated retail companies. 

The company covenants that during the life of these 
notes quick assets will be maintained at \y 2 times 
total indebtedness less cash and real estate mortgages, 
and that neither it or its controlled companies will 
create any additional debt other than current bills or 
6 mos. unsecured notes not to exceed $1,000,000. 

Subject to redemption prior to 1 Jan., 1915, at 102 and 
interest, after 1 Jan., 1915, at 101 and interest, on 8 
weeks' notice. 

An obligation of the company, not specifically secured. 
The interest is payable only to the extent earned and is 

not cumulative. 
Subject to redemption on any Aug. 1, at 102 and interest 

on 4 weeks' notice. 
The company operates that part of the factories and 

property of the E. I. duPont de Nemours Powder 

Co., which it received under the order of the U. S. 

District Court segregating the duPont Co.'s assets. 



56 



Industrial 



Ayer Mills 

Construction & Equipment Notes 



Dated: 1 Mar., 1910 



Due: 



$500,000. 1 Mar.. 1913 

500.000, 1 Mar., 1914 

1,000,000, 1 Mar., 1915 



Interest Due : Mar. & Sept. 1 
Amount Authorized: $2,000,000 
" Outstanding: 1,500,000 
Trustee: Form: C. 1,000 



Ayer Mills 

Construction & Equipment Notes 

Ay 2 <?o 



($1,000,000, 1 Mar., 1916 
1 1.( 



Dated: 1 Mar., 1911 

'000,000, 
Interest Due : Mar. & Sept. 1 
Amount Authorized: $2,000,000 
Outstanding: 2,000,000 
Trustee: Form: C. 1,000 



Bishop-Babcock-Becker Co. 

Collateral Trust Notes 



6% 



Dated: 1 May, 1912 

n , 1p J $200,000, Semi- Annually, May & Nov. 1 
UUG ' tfrom Nov., 1912, to May, 1915 

Interest Due : May & Nov. 1 

Amount Authorized: $1,200,000 

Outstanding: 800,000 

Trustee: F. Nat. Cleve. Form: C. 1,000 



An obligation of the company, not specifically secured. 

Guaranteed as to principal and interest by the American 
Woolen Co., which owns the entire C/S of Ayer 
Mills. Neither company has funded debt other than 
this and the following lien. 



An obligation of the company, not specifically secured. 
Guaranteed as to principal and interest by the American 
Woolen Co. 



An obligation of the company, secured by deposit with 

the Trustee of : 

Unmatured customers' notes amounting to 125% of 

notes issued or outstanding. 
Subject to redemption in numerical order at 102 and 

interest on any interest date. 



57 



Industrial 



Braden Copper Mines Co. 

Ten- Year Convertible Bonds 6% 



Dated: 1 June, 1909 Due: 1 June, 1919 

Interest Due : June & Dec. 1 
Amount Authorized: $4,000,000 
" Outstanding: 3,996,000 
Trustee : F. Form : C. r. 500 

Braden Copper Mines Co. 



Second Lien Collateral Trust 
Convertible Bonds 



7% 



Dated: 1 Nov., 1910 Due: 1 Nov., 1915 

Interest Due : May & Nov. 1 
Amount Authorized: $2,000,000 
" Outstanding: 988,000 
Trustee : G. Form : C. r. 500 

Braden Copper Mines Co. 

Three=Year Convertible Debentures 
Extended 7% 



Dated: 1 June, 1911 Due: 1 June, 1916 

Interest Due : June & Dec. 1 
Amount Authorized: $2,000,000 
Outstanding: 1,972,500 
Trustee : Form : C. r. 500 

Business Real Estate Trust of Boston 

Ten- Year 1st Mortgage 4% 

Dated: 1 June, 1911 Due: 1 June, 1921 

Interest Due : June & Dec. 1 
Amount Authorized: $4,200,000 
" Outstanding: 4,200,000 
Trustee: O. C. Bos. Form: C. 1,000, R. 100, 500, 

1,000, 5,000, etc. Int. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$4,000,000 Braden Copper Co. 1st Mtge. 6s. 
233.203 " " " C/S 

thereby giving to these notes practically a first lien 

on all the properties of the Braden Copper Co. in 

Chili. 
Convertible at any time into stock of the Braden Copper 

Mines Co. at par. 
Subject to redemption at 105 and interest until 1 June, 

1919. 

An obligation of the company, secured by deposit with 

the Trustee of : 

$2,000,000 Braden Copper Co. Demand Notes, and by 

a lien, subject to the 10-year convertibles, dated 1 

June, 1909, upon the collateral deposited as security 

therefor. 
Convertible at any time into stock of the Braden Copper 

Mines Co. at par. 
Subject to redemption at 110 and interest on 30 days' 

notice. 

An obligation of the company, not specifically secured. 

The company covenants that it will not create any 
further encumbrance or lien on its properties which 
shall take precedence over this issue. 

Convertible at par at any time prior to 1 Mar., 1916, in 
stock of the company. 

The Stockholders, on 21 July, 1913, authorized the ex- 
tension of these notes, from the original maturity 
June, 1914, to 1 June, 1916. 

An obligation of the association, secured by a first mort- 
gage on 34,780 square feet of land and a 1st lien on 
leases for 99 years on 7,800 square feet having a 
frontage on Washington St. of 191 feet, on Summer 
St. of 223 feet, and on Hawley St. 198 feet. Improv- 
ed with 8-story fireproof store rented for 35 years. 
Approximate total cost is said to be $7,100,000. 

Subject to redemption at 105% and interest on any in= 
terest day on 60 days' notice. 



58 



Industrial 



Calumet & Hecla Mining Co. 

Ten-Year Notes 



5% 



Dated: 18 Feb., 1909 Due: 18 Feb., 1919 

Interest Due: Feb. & Aug. 18 
Amount Authorized: $1,685,000 
" Outstanding: 1,685,000 
Trustee: O.C. Bos. Form: C. 1,000 

Calumet & Hecla Mining Co. 

Ten-Year Notes A^o 

Due: 18 Feb., 1919 



Dated: 18 Feb., 1909 
Interest Due: Feb. & Aug. 18 
Amount Authorized: $4,134,000 
Outstanding: 4,134,000 
Trustee: O. C. Bos. Form: C. 1,000 

Cambria Steel Co. 

Three-Year Notes Series A 



5% 



Dated: 1 May, 1911 Due: 1 May, 1914 

Interest Due : May & Nov. 1 
Amount Authorized: $2,000,000 
Outstanding: 2,000,000 
Trustee : Drexel & Co. Phil. Form : C. 10,000 



Chino Copper Co. 

1st Mortgage Convertible 



6% 



Dated: 1 July, 1911 
Interest Due : Jan & July 1 
Amount Authorized: $2,500,000 
" Outstanding: 755,500 
Trustee: B. Form: C. r. 500, 1,000 



Due: 1 July, 1921 



An obligation of the company, not specifically secured. 
The company now has no mortgage upon its property 

and none can be placed without including these 

notes. 
Subject to redemption after Feb. 1912, at 102 and interest. 



An obligation of the company, not specifically secured. 
The company has no mortgage upon its property and 

covenants that it will not place a mortgage thereon 

without including these notes. 
Subject to redemption after 3 years, at par and interest. 



An obligation of the company, not specifically secured, 
Subject to redemption at par in lots of $500,000. 



An obligation of the company, secured by a first mort- 
gage on the property of the company. 

Convertible between 1 July, 1912, and 1 July, 1917, into 
stock of the company at $25 per share (par $5.00). 

Subject to redemption on 1 July, 1914, or any interest 
day thereafter at 110% and interest on 90 days' notice. 



59 



Industrial 



The Cleveland-Cliffs Iron Co. 

Collateral Trust 



6% 



Dated: 1 Nov., 1911 



tw • / $500,000 Semi-Annually 
^ ue \ 1 Nov., 1913. to 1 Nov., 1915 

Interest Due : May & Nov. 1 

Amount Authorized: $2,500,000 

° Outstanding: 2,500,000 

Trustee: Form: C. r. 1,000 

Consolidation Coal Co. 

Ten- Year Convertible Secured 6% 



Dated: 1 Feb., 1913 Due: 1 Feb., 1923 

Interest Due : Feb. & Aug. 1 
Amount Authorized: $6,500,000 
Outstanding: 6,500,000 
Trustee: E. Form: C. r. 500, 1,000 R. Int. 

Cuban- American Sugar Co. 

Ten- Year Collateral Trust Sinking Fund 

6% 

Dated: 1 Apr., 1908 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $10,000,000 
" Outstanding: 9,588,000 
Trustee: C. Form: C. r. 1,000 



Due: 1 Apr., 1918 



An obligation of the company, secured by pledge of: 
$2,500,000 (entire issue) Cleveland Iron Mining Co. 
C/S 
1,000,000 (entire issue) Iron Cliffs Co. C/S 
Subject to redemption to 1 Nov., 1913, at 101 and in- 
terest, on 1 May or 1 Nov., 1914, at 100 J^ and interest 
and thereafter at par. 



An obligation of the company, secured by deposit with 
the Trustee of: 

$6,500,000 Consolidated Coal Co. 1st & Ref. 5s. 
1,800,000 Northwestern Fuel Co. Com. 
500,000 Metropolitan Coal Co. Com. 
Convertible at any time before 1 Feb., 1922, into Com- 
mon Stock of the company at 105. 
Subject to redemption on 1 Feb., 1916, or any interest 
day thereafter at 105 and interest on 12 weeks' notice. 

An obligation of the company, secured by deposit with 
the Trustee of: 

$3,500,000 Chaparra Sugar Co. 1st Ref. 6s. 
1,000,000 Tinguaro Sugar Co. 1st Ref. 6s. 
1,200,000 Cuban Sugar Refining Co. 1st Ref. 6s. 
400,000 Unidad Sugar Co. 1st Ref. 6s. 
500,000 Mexcedita Sugar Co. 1st Ref. 6s. 
3,000,000 Colonial Sugars Co. 1st 5s. 
1,290,000 San Manuel Sugar Co. 1st Ref. 6s. 
(all the above are total issues) 
510,000 Chaparra R. R. Co. 1st Ref. 6s. 
The company covenants that it will not issue any secur- 
ities that might impair the lien of these notes on the 
properties set forth above, the cash cost of which is 
stated to be $20,000,000. 
Subject to redemption on any interest day at 105 and 
interest upon 6 weeks' notice. 



6o 



Industrial 



Davis Sewing Machine Co. 

1st Mortgage 



6% 



Due 



Dated: 1 Jan., 1913 

/ $60,000 Annually 
t 1 June, 1915, to 1924 

Interest Due : June & Dec. 1 

Amount Authorized: $600,000 

11 Outstanding: 600,000 

Trustee: Day.S.&T.Day.O. Form: C. 500, 1,000 



Deere & Co. 

Notes 



5% 



™ + a iu ion tw.J$ 1.000,000 Annually 
Dated: 1 May, 191 1 Due: | j ^ m2iQ |9| £ 

Interest Due : Feb. & Aug. 1 
Amount Authorized: $5,000,000 
11 Outstanding: 4,000,000 
Trustee : F. T. & S. Chi. Form : C. 1,000, R. 



Denver Realty Co. 

Two-Year Collateral Trust 

Notes bYz°lo 



Dated: 1 Oct., 1911 Due: 1 Oct., 1913 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $750,0000 
" Outstanding: 750,000 
Trustee: Int. T. Den. Form: C. 5,000, 1,000 



An obligation of the company, secured by a first mort- 
gage on all the property of the company, now owned 
or hereafter acquired. The mortgage provides that 
quick assets must always be 150% of the bonds out- 
standing. 

Subject to redemption in reverse order of maturities on 
any interest date at 102 and interest on 60 days' 
notice. 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will not place any mortgage on the prop- 
erty or issue additional bonds, and that net quick 
assets will be maintained in excess of the bonds out- 
standing. The only other funded indebtedness of 
the company is $1,250,000 debentures, maturing 
$50,000 annually 1913 to 1917. 

Subject to redemption as a whole on any interest day at 
101 and interest on 60 days' notice. 



An obligation of the company, secured by the pledge of 
the following real estate and securities : 

10,000 square feet of land corner 15th and Arapahoe 
St., Denver, leased for 99 years and im- 
proved with 9-story steel office building. 
$500,000 Inter-Mountain Ry. Co. 1st 5s. 
1,000,000 Denver & Inter-Mountain R. R. Co. C/S 
170,000 Boulevard Real Estate Co. 1st Mtge. Bonds. 
Guaranteed principal and interest by the Denver City 

Tramway Co. 
Subject to redemption as a whole on any interest day at 
100^ and interest on 60 days' notice. 



6i 



Industrial 



Diamond Match Co. 

Ten- Year Convertible Notes 6% 



Dated: 15 Dec., 1910 Due: 15 Dec., 1920 

Interest Due: June & Dec., 15 
Amount Authorized: $2,000,000 
" Outstanding: 1,512,000 
Trustee: C. & C. Chi. Form: C. r. 100, 500, 1,000 



Doe Run Lead Co. 

1st Mortgage Sinking Fund 



6% 
Mar., 1915 



Dated: 1 Mar., 1912 Due: 

Interest Due : Mar. & Sept. 1 
Amount Authorized: $2,200,000 
■ ' Outstanding : 1 ,800,000 
Trustee: St. L. U. T. St. Louis Form: C. r. 1,000 



Dominion Steel Corp. 

Five- Year Secured Debentures 5 °fo 

Dated: 1 Nov., 1910 Due: 1 Nov., 1915 

Interest Due : May & Nov. 1 
Amount Authorized: $2,500,000 
Outstanding: 1,500,000 
Trustee : Form : C. r. (or £) 



Durham Duplex Razor Co. 

Ten -Year Convertible 
Dated: 1 July, 1911 Due: 1 

Interest Due : Jan. & July 1 
Amount Authorized: $300,000 

Outstanding: 268,500 
Trustee : G. Form : C. r. 500, 1 ,000 



6% 
July, 1921 



An obligation of the company, not specifically secured. 

The company covenants not to place any mortgage upon 
its property (except in respect to its California tim- 
ber lands) while these notes are outstanding. The 
company further covenants that beginning 15 Dec, 
1915, it will annually redeem one-sixth of the issue. 

Convertible at any time before 15 Dec., 1915, into stock 
of the company at par. 

Subject to redemption on 15 Dec, 1915, or any interest 
day thereafter at 102 j^ and interest. 

An obligation of the company, secured by a first mort- 
gage on the property of the company, including 
mines and about 6,700 acres of ore land in Missouri. 
The Sinking Fund provides for the redemption of: 
$200,000 1 Sept., 1912, 
200,000 1 Mar., 1913, 
200,000 1 Sept., 1913. 
300,000 1 Mar., 1914, 
300,000 1 Sept., 1914. 
Subject to redemption at any time at 101 and interest 
on 30 days' notice. 

An obligation of the company, secured by pledge of: 
$19,972,200 (99.9%) Dominion Iron & Steel Co. Com. 
14,831,400 (98.9%) Dominion Coal Co. Com. 

The company covenants not to issue any bonds secured 
by mortgage while these notes are outstanding. 

Subject to redemption on any interest date at 102^ on 
30 days' notice. 



An obligation of the company, not specifically secured. 

Convertible on 1 July, 1913, or any interest date there- 
after, into Preferred Stock at par. 

Subject to redemption on any interest date at 105 and 
interest. 



62 



Industrial 



Electric Boat Co. 

Five- Year Convertible 
Sinking Fund Notes 



6% 



Dated: 2 May, 1910 
Interest Due : May & Nov. 1 
Amount Authorized : $1,000,000 
Outstanding: 600,000 
Trustee: C. Form: C.r. 1,000 



Due: 1 May, 1915 



Elkhorn Fuel Co. 



Five- Year Convertible 
1st Mortgage 



5% 



Dated: 1 May, 1913 
Interest Due : May & Nov. 1 
Amount Authorized: $4,000,000 
Outstanding: 4,000,000 
Trustee: G. Form: C. r. 500, 1,000 



Empire Steel & Iron Co. 

Collateral Trust Notes 



Due: 1 May, 1918 



6% 



Dated: 1 June, 1912 
Due: 



$50,000 Annually 1 Dec. 1914, 1915, 1916 
75,000 Annually 1 Dec. 1917, 1918 

Interest Due : June & Dec. 1 

Amount Authorized: $300,000 

" Outstanding: 300,000 

Trustee: Com. T. Jersey C. Form: C. 1,000 



An obligation of the company, secured by deposit with 
the Trustee of : 

$200,000 Electric Launch Co. 1st 6s. 
28,900 " " " C/S 

150,000 Electro-Dynamic Co. 1st 6s. 
348,900 " " "C/S 

998,900 National Torpedo Co. C/S 
137,700 New Jersey Development Co. C/S 
: 98,900 Industrial Oxygen Co. C/S 
and its rights under the lease of the Electric Launch 
Co.'s plant at Bayonne, N. J. 
Convertible at any time into Pref . Stock at par. 
Subject to redemption on any interest day at 102)4 and 

interest. 
Sinking Fund of $150,000 per annum beginning May, 
1911. 

An obligation of the company, secured by a first mort- 
gage on the property of the company, including 
about 200,000 acres of coal lands in the Elkhorn 
District of Kentucky, and by deposit with the 
Trustee of : 

$787,900 Beaver Creek Consolidated Coal Co. C/S 
180,000 Tenuis Coal Co. C/S 
50,000 York Coal & Coke Co. C/S 
1,200,000 Mineral Fuel Co. C/S 
4,400.000 Consolidated Coal Co. C/S. 
Convertible between 1 Nov., 1913, and 1 Feb., 1918, into 

stock of the Consolidated Coal Co. at 105. 
Subject to redemption on any interest date at 105 and 
interest upon 60 days' notice. 

An obligation of the company, secured by the deposit 

with the Trustee of : 

$750,000 Crane Iron Works C/S (all). 
109,300 Mt. Hope Mineral Ry. Co. C/S (68%). 

No prior lien can be created while any of these notes 

are outstanding. 
Subject to redemption on any interest date at 102 and 

interest. . 



Industrial 



Federal Sugar Refining Co. 

Three- Year Refunding Notes 



Dated: 1 Nov., 1911 Due: 

Interest Due: F-M-A&N 1 
Amount Authorized: $2,500,000 
" Outstanding: 2,500,000 
Trustee: Form: C. r. 1,000 

Fifth Avenue Building Co. 

Three-Year Secured Notes 



5% 
ov M 1914 



6% 



Dated : 1 May, 1910 Due by Exten. 1 May, 1914 
Interest Due : May & Nov. 1 
Amount Authorized: $1,000,000 
" Outstanding: 1,000,000 
Trustee: U. S. M. & T. Form: C. r. 1,000 

The Fresnillo Co. 

Six-Year Convertible Notes 6% 



Dated: 1 Sept., 1912 
Interest Due : Mar. & Sept. 1 
Amount Authorized: $500,000 
" Outstanding: 200,000 
Trustee: G. Form: R. 500 



Due: 1 Sept., 1918 



Gas Traction Co. 

Two-Year Notes 



Dated: 1 Apr., 1912 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $1,000,000 
" Outstanding: 1,000,000 
Trustee: G. Form: C. 1,000 



Due: 1 Apr., 1914 



An obligation of the company, not specifically secured. 

The company now has no mortgage indebtedness, and 
covenants that it will not create any mortgage with- 
out providing cash for the payment of these notes. 

Subject to redemption on any interest date at 101 and 
interest on 60 days' notice. 



An obligation of the company, secured by a lien, subject 
to $6,500,000 1st. Mtge. on the Fifth Ave. Building, 
at 5th Ave. 23d and 24th Sts. (14-story fireproof 
office structure) , and, subject to a $120,000 mortgage, 
on 23 West 23d St., New York City. 

Guaranteed as to principal and interest jointly and sev- 
erally, by Henry C. Eno and Henry I,ane Eno. 



An obligation of the company, not specifically secured. 
Convertibility — Any registered holder may within two 

years after the date of the debentures convert into 

Common Stock of the company at par. 
Subject to redemption on any interest date at 110 and 

interest upon 30 days' notice. 



An obligation of the company, not specifically secured. 
The company has no mortgage or other liens ahead of 

these notes and covenants not to create any as long 

as these notes are outstanding, and to maintain quick 

assets of 150% of outstanding notes. 
Subject to redemption as a whole any time at 100^ and 

interest on 60 days' notice. 



64 



Industrial 



General Asphalt Co. 

Five-Year Debentures 



Due 



Dated: 1 Mar., 1911 
Interest Due : Mar. & Sept. 1 
Amount Authorized: $1,116,500 
" Outstanding: 1,116,500 
Trustee : Com. T. Phila. Form : R. 



5% 
1 Mar., 1916 



500 



General Electric Co. 

Ten-Year Convertible Debentures 



Dated: 1 June, 1907 
Interest Due : June & Dec. 1 
Amount Authorized: $13,000,000 
" Outstanding: 207,000 
Trustee: Form: C. r. 500, 1,000 

General Motors Co. 

Five-Year 1st Lien Sinking 
Fund Notes 



Due: 1 June, 1917 



6% 



Dated: 1 Oct., 1910 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $20,000,000 
' * Outstanding : 1 1 ,922,000 
Trustee: C. Form: C. r. 1,000 



Due: 1 Oct., 1915 



An obligation of the company, not specifically secured. 
Subject to redemption on any interest date at par and 

interest. 
These notes were issued in lieu of cash payment of 8j^% 

accumulated dividends on the Preferred Stock. 



An obligation of the company, not specifically secured. 
The company covenants, however, not to create any 

new mortgage upon the property owned at the date 

of these notes without including them in the security 

thereof. 
Convertible after 1 June, 1911, at any time into stock of 

the company at par. 
Subject to redemption at any time at 105 and interest on 

90 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$13,300,000 General Motors Co. of Mich., 1st Mtge. 
Bonds, thereby giving to these notes a lien on the 
property of the subsidiary manufacturing companies 
which had previously transferred their assets to the 
General Motors Co. of Michigan, and by the further 
deposit with the Trustee of the stocks of subsidiary 
companies held by the General Motors Co., aggre- 
gating approximately $15,000,000, with the provision 
that none of the subsidiary companies shall increase 
their stock or issue obligations for a longer period 
than 3 months, without the General Motors Co. ac- 
quiring and pledging said new securities as security 
for this issue. Also that the company will maintain 
quick assets of 133% of notes outstanding and an 
amount equal to dividends on Common, if any. The 
company or its subsidiaries manufacture the Buick, 
Cadillac, Oldsmobile, Elmore, Oakland, Carter Car, 
Marquette, General Motors Truck, etc. 

Sinking Fund provides for : 

$1,500,000 Oct. 1, 1911 and 1912. 
2,000,000 " 1, 1913 and 1914. 

Subject to redemption as a whole, or in part, for S/F., 
on any interest date at 102^ on 60 days' notice. 



65 



Industrial 



General Rubber Co. 

Ten-Year Debentures 



Due: 



I July 1915 



Dated: 1 July, 1905 
Interest Due : Jan. & July 1 
Amount Authorized: $9,000,000 
Outstanding: 9,000,000 
Trustee : Ind. T. Prov. Form : C. r. 1 ,000 R. 



Giroux Consolidated Mines Co. 

1st Mortgage Convertible 



Dated: 1 Mar., 1908 Due: 1 Mar., 1918 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $1,500,000 
Outstanding: 292,900 
Trustee: Em. Form: C. r. 100, 500, 1,000, R. 



Glidden Varnish Co. 

First Mortgage 



Dated: 1 June, 1912 

Interest Due : June & Dec. 1 

■p. \ $25,000 Semi- Annually 

^ Ue - tjune& Dee. 1913 to 1922 

Amount Authorized: $500,000 

* Outstanding: 500,000 

Trustee: C. S. & T. Clevel'd Form: C. 500, 1,000 



An obligation of the company, not specifically secured . 

The company covenants that it will maintain net quick 
assets of 120% of debentures outstanding, and that 
it will not create any lien or indebtedness without 
reserving to these notes the right of prior payment. 

Guaranteed principal and interest by the United States 
Rubber Co. and the Rubber Goods Manufacturing 
Co., which is owned by the U. S. Rubber Co. 

Subject to redemption on any interest date at 105 and 
interest. 



An obligation of the company, secured by a first mort- 
gage on the company's property at Ely, Nev., and, 
as a direct obligation of the company, a lien on the 
property at Sonora, Mex. 

Convertible at any time before 1 March, 1913, into stock 
of the company at par. 

Subject to redemption after 1 March, 1913, at 105 and 
interest. 



An obligation of the company, secured by a first mort= 
gage on the property of the company and by deposit 
of all the Capital Stock of the Glidden Varnish Co., 
Ltd., of Canada, a lien on that company's property, 
which is now unencumbered and on which the com- 
pany covenants not to place a mortgage. 
The company further covenants that it will maintain 
net current assets of not less than $250,000, and that 
it will not declare any dividends when its net current 
assets are less than $500,000. 

The company manufactures varnishes of all kinds, 
including Jap-a-Lac. 

Subject to redemption on any interest date at 103 and 
interest, in inverse order of serial numbers and 
maturities, on 30 days' notice. 



66 



Industrial 



Harlan & Hollingsworth Corp. 



Debentures 



6% 



Dated: 1 Apr., 1912 Due: 



$90,000 Annually 
1 Jan., 1914 to 1918 

Interest Due : Jan. & July 1 

Amount Authorized: $450,000 

" Outstanding: 450,000 

Trustee: Com. T. Phil. Form: C. 1,000 



Hercules Powder Co. 

Ten-Year Income Debentures 6% 
Dated: 2 Jan., 1913 Due: 1 Feb., 1923 



Interest Due : Feb. & Aug. 1 
Amount Authorized : $6,500,000 
" Outstanding: 6,500,000 
Trustee: G. Form: C. 100, 1,000, R. Int. 



Indian Refining Co. 

First Mortgage S/F Serial 



6 c /o 



Dated: 1 Apr., 1911 

tw • < $200,000 Semi- Ann'ly 1 Apr. 1 9 1 2 to 1 Oct. 1916 
Une ■ 1 300,000 Semi- Ann'ly 1 Apr. 1 9 1 7 to 1 Oct. 1 92 1 

Interest Due : Apr. & Oct. 1 

Amount Authorized: $5,000,000 

11 Outstanding: 3,006,000 

Trustee: B. Form: C. r. 100, 500, 1,000 



An obligation of the company, not specifically secured. 
The company covenants not to create any lien or charge 

upon its property owned at the date of these notes, 

while any of them are outstanding. 
Subject to redemption upon any interest date at par and 

interest on 60 days' notice. 



An obligation of the company, not specifically secured. 

The interest is payable only to the extent earned and is 
not cumulative. 

Subject to redemption on any Aug. 1, at 102 and interest 
on 4 weeks' notice. 

The company operates that part of the factories and 
property of the E. I. du Pont de Nemours Powder Co. , 
which it received under the order of the U. S. District 
Court segregating the Du Pont Co.'s assets. 



An obligation of the company, secured by a first mort- 
gage upon all the property of the company now own- 
ed or hereafter acquired. 

Sinking Fund provides for monthly payments of 60% 
of net value of oil produced. Such payments to be 
not less than $125,000 quarterly. 

Subject to redemption as a whole, or in part, for the 
S/F., on any interest day, at 102 and interest on 45 
days' notice. 



67 



Industrial 



Indian Refining Co. 

Serial Notes 


7% 

$500,000 
250,000 
300,000 
300,000 
,200,000 


An obligation of the company, secured by deposit with 
the Trustee of: 
$1,739,688.54 Indian Refining Co. of N. Y. Demand 


Dated: I May, 1913 

( 1 Nov., 1913 

1 May, 1914 

Due: 4 1 Nov., 1914 

1 May, 1915 

V 1 May, 1918 

Interest Due : May & Nov. 1 
Amount Authorized: $2,550,000 
" Outstanding: 2,446,500 
Trustee: G. Form: C. 100, 500, 1,000 


Notes. 
Subject to redemption on any interest day at par and 
interest on 3 weeks' notice. 


International Cotton Mills Corp. 
(of N. Y.) 

Five- Year Convertible Notes 


6% 
ly, 1916 


An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will not issue, assume or guarantee any 
bonds or notes. 


Dated: 1 July, 1911 Due: 1 Ju 
Interest Due : Jan. & July 1 
Amount Authorized: $2,000,000 
Outstanding : 1 ,900,000 
Trustee : B. Form : C. r. 1 ,000, R. 


Convertible at any time between 1 Aug., 1913, and 1 
Jan., 1916, into Pref. Stock of the company at par. 

Sinking Fund provides for the payment to the Trustee 
of sufficient money to redeem on Jan. 1, 1912, 1913 
and 1914, $100,000; on 1 Jan., 1915, $200,000. 

Subject to redemption on any interest date at par and 
interest on 3 weeks' notice. 


International Cotton Mills (of I 

Five-Year Notes 


£ass.) 

6% 

1, 1918 


An obligation of the company, not specifically secured. 
The company covenants that while these notes are out- 
standing it will not mortgage its properties or issue 


Dated: 2 June, 1913 Due: June 
Interest Due : June & Dec. I 
Amount Authorized: $5,000,000 
" Outstanding: 4,000,000 
Trustee: O. C Bos. Form: C. r. 1,000 


any bonds or long term notes. 
Subject to redemption on any interest date after 1 June, 
1914, at 101 and interest. 



68 



Industrial 



International Harvester Co. 

Three-Year Notes 5$> 

Dated: 15 Feb., 1912 ~ Due: Feb. 15, 1915 

Interest Due: Feb. & Aug. 15 
Amount Authorized: $20,000,000 
" Outstanding: 20,000,000 
Trustee: B. Form: C. 1,000, 5,000, 10,000 



Iroquois Iron Co. 

Serial Debentures 



Dated: 1 Dec., 1910 Due 



$100,000 Annually 
June 1, 1913 to 1921 



Interest Due : June & Dec. 1 
Amount Authorized: $1,000,000 
Outstanding: 800,000 
Trustee: G. Form: C. r. 1,000 

Lackawanna Steel Co. 

Five- Year Convertible Debentures 5 °fo 
Dated: 1 Mar., 1910 Due: 1 Mar., 1915 

Interest Due : Mar. & Sept. 1 
Amount Authorized : $ 1 0,000,000 
" Outstanding: 9,994,000 
Trustee: N. Y. T. Form: C. r. 1,000 

Lehigh Coal & Navigation Co. 

Ten-Year Collateral Trust 



Power Notes 



4^% 



Due: 1 Dec., 1921 



Dated: 1 Dec, 1911 
Interest Due : June & Dec. 1 
Amount Authorized: $3,000,000 
11 Outstanding: 3,000,000 
Trustee: G. T. & S. D. Phil. Form: C. r. 1,000 



An obligation of the company, not specifically secured. 

They have been assumed, $15,000,000 by the Interna- 
tional Harvester Co. of N. Y., and $5,000,000 by the 
International Harvester Corp. 

Not subject to redemption. 



An obligation of the company, not specifically secured. 
The company covenants that it will not increase its 

present mortgage indebtedness without retiring these 

notes at 105. 
Sinking Fund provides for the payment of 25 cents per 

ton on ore mined and shipped. 
Subject to redemption on any interest date at 105 and 

interest on 6 weeks' notice. 



An obligation of the company, not specifically secured. 
The company covenants that until the payment of these 

notes it will not mortgage its property or pledge its 

securities. 
Convertible at any time after 1 March, 1912, into the 7% 

Cumulative Preferred Stock of the company at 115. 
Subject to redemption on any interest date after 1 March, 

1913, at par and interest upon 60 days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$1,000,000 Lehigh Coal & Navigation Co. Gen'l 4^s 
3,000,000 Lehigh Navigation & Electric Co. 1st 5s. 

Subject to redemption as a whole on any interest date at 
102^ and interest on 60 days' notice. 

The company, which incorporated in 1822, owns both 
coal, railroad and canal properties — most of the rail- 
road properties being leased to the Central R. R. of 
N. J., issued these notes to provide for the erection 
of a power plant near Mauch Chunk, to utilize coal 
dust from the mines in producing commercial power. 



69 



Industrial 



Lehigh Coal & Navigation Co. 

One-Year Notes 5% 

Dated: 1 July, 1913 Due: 1 July, 1914 

Interest Due: Jan. & July 1 
Amount Authorized: $1,500,000 
11 Outstanding: 1,500,000 
Trustee : Pa. Co. I. L. & G. A. Phil. Form : C. 5,000 

Locomobile Co. of America 

First Mortgage Sinking Fund 6% 



Due: 1 June, 1922 



Dated: 1 June, 1912 
Interest Due : June & Dec. 1 
Amount Authorized: $1,500,000 
" Outstanding: 1,340,000 
Trustee: B. Form: C. r. 500, 1,000 



Mexican Petroleum Co. (of Del. ) 

Ten-Year Convertible 1st Lien 

& Refunding, Series, A, B & C 6</o 



Dated: 1 Oct., 1911 Due: 1 Oct., 1921 

Interest Due : Apr. & Oct. 1 

Amount Authorized: $12,000,000 

f Series A. $1,805,000 

" Outstanding:^ B, 1,940,000 

( C, 2,000,000 

Trustee: G. Form : C. r. 500, 1,000, R., Int. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$1,250,000 The Lehigh Coal & Nav. Co. Gen'l Mtge. 
4^s. 
1,000,000 " Funding and Imp. Mtge. 4s. 

Subject to redemption as a whole at par and interest on 
60 days' notice. 



An obligation of the company, secured by a first mort- 
gage on the properties of the company now owned or 
hereafter acquired — except as to an underlying lien 
of $151,000 on the New York Real Estate. 

The company covenants that net quick assets will be 
maintained at 150% of bonds outstanding. 

Sinking Fund provides for the annual payment begin- 
ning 1 June, 1913, of $100,000, plus an additional 
$50,000, if earned, which, however, is cumulative, to 
be applied in the redemption and cancellation of 
bonds. 

Subject to redemption on any interest date at 105 and 
interest on 60 days' notice. 



Secured by deposit with the Trustee of : 

$1,916,400 Mexican Petroleum Co (of Cal.) 1st 6s. 
6,248,175 " " " C/S 

1,000,000 Huasteca Petroleum Co. Coast Pipe Line 6s. 
14,678,100 " " «* C/S 

999,100 Tamiahua Petroleum Co. C/S 
295,000 Mexican Petroleum Co. -Huasteca Petro- 
leum 6% bonds. 
2,200,000 Huasteca Petroleum Co. 1st 6s. 
945,000 " " " Due Bill. 

Convertible between 1 Oct., 1913, and 1 Apr., 1921. into 
Common Stock of the company at par, with an ad- 
justment for £ bonds. 
Sinking Fund provides for a separate Sinking Fund for 
each series at the rate of 2 cents per barrel of crude or 
manufactured oil produced or delivered, per million 
dollars of bonds outstanding. 
Subject to redemption, each series as a whole on any 
interest date at 105 and interest on 8 weeks' notice. 



70 



Industrial 



Mitchell-Lewis Motor Co. 

Serial Notes 



6% 



Dated: 1 Nov., 1911 
Interest Due : Feb. & Aug. 1 



Due: 

Amount Authorized: 
" Outstanding : 
Trustee : C. & C. Chi. 



($750,000, A, 1 Aug., 1912 
11,750,000, B, 1 Aug., 1913 

2,500,000 

1,750,000 
Form: C. r. 1,000,5,000 



Mitchell-Lewis Motor Co. 

One-Year Notes 



6% 



Dated: 1 Aug., 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized : $1,500,000 
" Outstanding: 1,500,000 
Trustee : C. & C. Chi. Form : C. 1,000 

Nipe Bay Co. 

Five- Year 1st Mortgage 



Due: 1 Aug., 1914 



6% 



Dated: 1 June, 1909 Due: 1 June, 1914 

Interest Due : June & Dec. 1 
Amount Authorized : $3,500,000 
" Outstanding : 3,060,000 
Trustee : O. C. Bos. Form : C. r. 500, 1 ,000 



Nipe Bay Co. 



Ten- Year Debentures 



6 % 



Dated: I June, 1907 Due: 1 Ji 

Interest Due : June & Dec. 1 
Amount Authorized: $4,000,000 
" Outstanding: 3,500.000 
Trustee: Form: C. 500, 1,000 



1917 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will maintain quick assets of 150% of all 
bills and notes payable, including this issue. 

Subject to redemption as a whole at 101 and interest on 
60 days' notice. 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing quick assets shall be maintained in excess 
of 150% of all bills payable, including these notes. 

Subject to redemption as a whole at par and interest on 
30 days' notice. 

Issued to refund a portion of the notes maturing 1 Aug., 
1913, the balance of which will be paid off. 



An obligation of the company, secured by a first mortgage 
on the entire property of the company, which include 
cane sugar lands in Cuba and plants and machinery. 
Owned by United Fruit Co. 

Sinking Fund provides for the payment of $150,000 an- 
nually 1 June, 1911, 1912 and 1913, unless the com- 
pany shall have expended more than $600,000 in the 
completion of, and completed the 3d unit to its mill 
and the planting of 10,000 acres additional cane. 

Subject to redemption as a whole on any interest date at 
105 and interest on 60 days' notice. 

An obligation of the company, not specifically secured. 

Company owned by United Fruit Co. 

Sinking Fund provides for the annual purchase of 5% 

of outstanding notes at not exceeding par and interest 
Subject to redemption on any interest date at 103 and 

interest. 



7i 



Industrial 



Otis Elevator Co. 

Ten-Year Convertible Debentures 5 \ 



Dated: 1 Apr., 1910 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $3,500,000 
44 Outstanding: 3,500,000 
Trustee : N. Y. T. Form : C. r. 1 ,000 



Due: 1 Apr., 1920 



An obligation of the company, not specifically secured. 

The company covenants that it will not create any charge 
or lien on its property or that of its subsidiaries, and 
further that annually, beginning -with the year end- 
ing 1 Apr., 191-4. it will retire by purchase $100,000 
of notes. 

Convertible after 1 Apr., 1913, at any time into Common 
Stock of the company at par. 

Subject to redemption on 1 Apr., 1913, or any interest 
date thereafter, at 102^ and interest. 



Packard Motor Car Co. 

Five-Year Notes 



Dated: 1 Dec., 1911 
Interest Due : June & Dec. 1 
Amount Authorized : $3,000,000 
44 Outstanding; 3,000,000 
Trustee: C. Form: C. 1,000 (or £ eq.) 



5% 



Due: 1 Dec, 1916 



Peerless Motor Car Co. 

Serial 1st Mortgage 



6# 



Dated: 1 Apr., 1912 

t. . f $50,000 Annually 1 Apr., 1913 & 1914 
nne -\ 100,000 .Annually 1 Apr., 1915 to 1924 

Interest Due : Apr. & Oct. 1 

Amount Authorized: $1,100,000 

44 Outstanding: 1,050,000 

Trustee: Sup. S. & T. Cleve. Form : C. r. 1,000 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will not issue any other debentures or 
create any mortgage indebtedness without paying 
these notes ; that it will not borrow money in excess 
of §1,500,000 besides these notes and that it will 
maintain quick assets of twice the amount of all such 
indebtedness 

Subject to redemption on any interest date in amounts 
of not less than $200,000, at 101 and interest on 30 
days' notice. 



An obligation of the company, secured by a first mort- 
gage on the entire property of the company, and by 
the deposit with the Trustee of practically all the 
shares of subsidiary distributing Peerless Motor Com- 
panies of New York, of Illinois and of New England, 
and of the Doan Realty Co., owning the land of the 
New York Branch, subject to an underlying mort- 
gage on this latter property of £400.000. 

Subject to redemption on any interest date at 102 and 
interest, in inverse order of the serial numbers, on 
30 days' notice. 



72 



Industrial 



Pope Manufacturing Co. 



Two- Year Notes 



6<?o 
Due: 1 Apr., 1914 



Dated: 1 Apr., 1912 
Interest Due : Apr. & Oct. 1 
Amount Authorized: $1,000,000 
«• Outstanding: 1,000.000 
Trustee: Em. Form: C. 1,000 



Porto-Rican American Tobacco Co. 

Serial Notes 5°fo 



Dated: 1 Feb., 1912 

IL.j $300,000 Annually on 1 Feb., 1913 and 1914 
Lme *"f 400,000 1 Feb., 1915 

Interest Due : Feb. & Aug. 1 

Amount Authorized: $1,000,000 

" Outstanding 700,000 

Trustee: G. Form: C. r. 1,000 (or £ eq.) 



Ray Consolidated Copper Co. 

Ten-Year 1st Mortgage 
Convertible Sinking Fund 



Dated: 1 Jan., 1911 
Interest Due : Jan. & July I 
Amount Authorized: $3,000,000 
• ' Outstanding : 2,99 1 ,000 
Trustee : G. Form : C. r. 500, 1 ,000 



Due: 1 Jan., 1921 



An obligation of the company, not specifically secured. 

The company covenants not to place any mortgage on 
its property while these notes are outstanding and to 
maintain a surplus of quick assets of at least $500,000 
above all indebtedness. 



An obligation of the company, not specifically secured. 
The company, which has no funded debt, covenants not 

to mortgage its property without expressly providing 

for the priority of these notes. 
The company owns, either itself or through subsidiaries, 

factories of large capacity for the manufacture of 

cigars and cigarettes in Porto Rico. 



An obligation of the company, secured by a first mort- 
gage on all the properties of the company. 

Sinking Fund provides for the payment annually 1 Jan., 
1914, 1915 and 1916 of ten cents a ton of dry ore 
treated and after 1916 of 20 cents a ton, the money to 
be applied in redemption of bonds. 

Convertible at any time between 1 Jan., 1912, and 1 Jan., 
1917, into stock of the company at $20 per share 
(par $10.) 

Subject to redemption on any interest date on and after 
1 Jan., 1914, at 110 and interest on 4 weeks' notice. 



73 



Industrial 



Rumely (M.) Co. 

Two- Year Convertible Notes 



Dated: 1 Mar., 1913 
Interest Due: Mar. & Sept. 1 
Amount Authorized: $10,000,000 
" Outstanding: 10,000,000 
Trustee : B. Form : C. r. 1 ,000 



Schwarzchild & Sulzberger Co. 

Ten-Year Sinking Fund 
Debentures 



6% 
Due: 1 Mar., 1915 



6% 



Dated: 1 June, 1906 
Interest Due : June & Dec. 1 
Amount Authorized: $6,000,000 
" Outstanding: 4,600.000 
Trustee: C. K. Form: C. 500, 1,000 



Due: 1 June, 1916 



Sealshipt Oyster System 

Three- Year Convertible 



Dated: 1 July, 1911 
Interest Due : Jan. & July 1 
Amount Authorized: $2,500,000 
Outstanding: 2,500,000 
Trustee: O. C. Bos. Form: C. r. 1,000 



Due: 1 July, 1914 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will not create any mortgage upon its 
real or personal property, and that the net quick 
assets, as determined by the Trust Deed, shall be 
maintained at 150% of these notes. 

Convertible between 1 Sept., 1913, and 1 Dec, 1914, into 
Common Stock of the company at par. 

Subject to redemption on the 1st day of any month at 
par and interest, plus }4°/o for each 6 mos. or portion 
thereof to maturity, on 6 weeks' notice. 



An obligation of the company, not specifically secured. 
The company covenants not to place any mortgage upon 
the present plants at Kansas City, Chicago and New 
York, while these debentures are outstanding. 
Sinking Fund provides for the purchase or redemption of 
$125,000 1 June, 1907 and 1908. 
150,000 " 1909. 
200,000 " 1910. 
250,000 " 1911. 
275,000 " 1912 and 1913. 
300,000 " 1914. 
Subject to redemption on any interest date at 102^ and 

interest on 4'weeks' notice. 
Sulzberger & Sons Co. has succeeded to this business 
and assumed these notes. 



An obligation of the company, not specifically secured. 

Convertible between 1 July, 1913, and 1 July, 1914, into 
Common Stock of the company at par. 

The company failed to pay the interest due 1 July, 1913, 
on these notes. The company is requesting the de- 
posit of coupons due July, 1913, and Jan., 1914, to be 
held until July, 1914. 



74 



Industrial 



Standard Oil Cloth Co. 

Serial Debentures 



6% 



Dated: 1 Sept., 1912 

Tw. i $100,000 Annually Dec. 1, 1913-1917 
UUQ - ( 200,000 Annually 1 Dec, 1918 

Interest Due : June & Dec. 1 

Amount Authorized: $700,000 

" Outstanding: 700,000 

Trustee: Gu. S. & T. Clev. O. Form: C. 1,000 



Studebaker Corp. (The) 

Serial Notes 



5% 



Dated: 1 Mar., 1912 



tw. / $400,000 S/A 1 Sept., 1912 
UUe '\ to 1 Mar., 1922 

Interest Due : Mar. & Sept. 1 

Amount Authorized: $8,000,000 

Outstanding: 7,200,000 

Trustee: C. K. Form: C. r. 500, 1,000 



Sulzberger & Sons Co. 

Sinking Fund Debentures 



Dated: 1 Mar., 1910 
Interest Due : Mar. & Sept. 1 
Amount Authorized: $5,000,000 
" Outstanding: 4,700,000 
Trustee: E. Form: C. 1,000 



Due: 1 June, 1916 



An obligation of the company, not specifically secured. 

The company has no bonded indebtedness and covenants 
that as long as any of these notes are outstanding it 
will keep its plants free from liens, will keep its cur- 
rent and floating indebtedness within 20% of its 
Capital Stock , and maintain liquid assets of at least 
125% of notes outstanding. 

Subject to redemption on any interest date at 102 and 
interest on 6 weeks' notice. 



An obligation of the company, not specifically secured. 

The company covenants not to create any mortgage 
upon its property without securing these notes 
equally therewith, and to maintain cash and quick 
assets of at least 175% of its indebtedness, including 
these notes. 

Subject to redemption as a whole on any interest date 
at 101)4 and interest on 30 days' notice. 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will not create any lien upon, nor sell, 
except in the event of maintaining other plants of 
equal aggregate capacity, the plants in Kansas City, 
Chicago and New York. 

Sinking Fund provides for retirement of $300,000 of 
notes annually 1 Mar., 1913, 1914 and 1915. 

Subject to redemption for Sinking Fund at 102)4 and 
interest, and as a whole at par and interest plus % °Jo 
for every 3 months to maturity. 

Company also has outstanding Schwarzchild & Sulzber- 
ger notes. 



75 



Industrial 



Tennessee Copper Co. 

Serial 1st Mortgage 



6% 



Dated: 1 Dec., 1910 

( $200,000 Annually 1 Dec., 1913-1914 
Due "J 250,000 Annually 1 Dec., 1915-1916 
( 300,000 Annually 1 Dec., 1917 

Interest Due : June & Dec. 1 

Amount Authorized: $1,500,000 

" Outstanding: 1,200,000 

Trustee: G. Form: C. r. 1,000 



Texas Company- 
Serial 1st Mortgage 



6% 



Dated: ,J uIy . ,9.0 Due: {f$%^ 

Interest Due : Jan. &. July 1 
Amount Authorized: $3,000,000 
" Outstanding: 2,400,000 
Trustee : L. T. I. & Tr. Form : C. r. 1 ,000 



Union Oil Co. of California 

One-Year Notes 



6% 



Dated: 1 Aug., 1912 
Interest Due: F-M-A&N 1 
Amount Authorized: $1,000,000 
Outstanding: 1,000,000 
Trustee: C. K. Form: C. r. 1.000 



Due: 1 Aug., 1913 



An obligation of the company, secured by a first mort- 
gage on all the property of the company now owned 
or hereafter acquired. 

Subject to redemption as a whole on any interest date 
at 103 and interest on 60 days' notice. 



An obligation of the company, secured by a first mort- 
gage on approximately 325 miles of pipe line with 
rights of way and franchises, excepting six pipe 
line stations and the refinery near Dallas. The com- 
pany covenants not to create any other mortgage or 
lien on its other property without securing these 
notes equally therewith. 

Subject to redemption on any interest date at par and 
interest on 90 days' notice. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$1,334,000 Union Oil Co. of Calif. 1st Lien 5s Series A. 
Subject to redemption on any interest date at 100^ and 

interest on 30 days' notice. 



7 6 



Industrial 



Union Oil Co. of California 

Serial Collateral Trust b°fo 

Dated: 1 May 1913 

iw.i $400,000 IMay, 1914 

Lme ' I 450,000 S.-A. thereafter to 1 May, 1913 

Interest Due : F. M-A-& N 1 

Amount Authorized: $4,000,000 

" Outstanding: 2,000,000 

Trustee: Los A.T.& S.Los An. Form: C. r. 1,000 



Union Typewriter Co. 

Three-Year Notes 



Dated: 15 Jan., 1913 
Interest Due : Jan. & July 1 5 
Amount Authorized: $5,000,000 
" Outstanding: 4,000,000 
Trustee: C.-K. Form: C. 1,000 

United Fruit Co. 

Serial Debentures 



5% 
Due: 15 Jan., 1916 



5% 



tw • i $ 1 60,000 Annually 
UUe ' I 1 June, 1913 to 1918 



Dated: 1 June, 1907 
Interest Due : June & Dec. 1 
Amount Authorized: $960,000 
Outstanding: 800,000 
Trustee: Form: C. 500, 1,000, R. 1,000 



United Fruit Co. 

Four-Year Notes 



Due 



6% 

1 May, 1917 



Dated: 1 May, 1913 
Interest Due : May & Nov. 1 
Amount Authorized: $12,000,000 
" Outstanding: 12,000,000 
Trustee: O. C. Bos. Form: C 100, 500, 1,000 



An obligation of the company, secured by deposit with 

the Trustee of : 

$3,000,000 Union Oil Co. of Calif. 1st Lien 5s. 
Subject to redemption on any interest date at 103% and 

interest on 30 days' notice. 



An obligation of the company, not specifically secured. 
The company now has no bonded debt and agrees not 

to place any lien upon its property while these notes 

are outstanding. 
Subject to redemption on any interest date at 101 and 

interest on 30 days' notice. 
In March, 1913, the company changed its name to the 

Remington Typewriter Co. 



An obligation of the company, not specifically secured. 
Subject to redemption after 1910 at 103 and interest. 



An obligation of the company, not specifically secured. 

The company covenants that it will not create any mort- 
gage debt without securing these notes equally,there- 
with. 

Subject to redemption as a whole on any interest^date 
at 101 and interest. 



77 



Industrial 



United States Gypsum Co. 



Five-Year Notes 



6% 



Dated: 15 Apr., 1912 Due: 15 Apr., 1917 

Interest Due : Apr. & Oct. 1 5 
Amount Authorized: $1,500,000 
' ' Outstanding : 1 , 1 95 ,000 
Trustee: C. C. Chi. Form: C. r. 1,000, 5,000 

United States Rubber Co. 



Ten-Year Collateral Trust 
Sinking Fund 



6% 



Dated: 1 Dec. 1908 Due: 1 Dec, 1918 

Interest Due : June & Dec. 1 
Amount Authorized: $20,000,000 
" Outstanding: 18,000,000 
Trustee: C. Form: C. 1,000, R., 5,000, 10,000 



An obligation of the company, not specifically secured. 

The company covenants that while these notes are out- 
standing it will not create any new mortgage or lien 
upon its property, and that net quick assets will be 
equal to 50% of notes outstanding. 

Subject to redemption on any interest date to 15 April, 
1914, at 102, and thereafter at 101 and interest on 60 
days' notice. 



An obligation of the company, secured by deposit with 
the Trustee of : 

$998,000 American Rubber Co. C/S 
1,498,000 Joseph Banigan Rubber Co. C/S 
4,998,000 Boston Rubber Shoe Co. C/S 

598,000 L. Candee & Co. C/S 

498,000 Goodyear' s India Rubber Glove Co. C/S 

998,000 Goodyear's Metallic Rubber Shoe Co. C/S 

118,000 Hastings Wool Boot Co. C/S 

398,000 I^ycoming Rubber Co. C/S 
4,998,000 Meyer Rubber Co. C/S 
1,198,000 National India Rubber Co. C/S 

298,000 New Brunswick Rubber Co. C/S 
23,000 Shoe Hardware Co. C/S 
2,998,000 Woonsocket Rubber Co. C/S 
8,789,400 Rubber Goods Mfg. Co. Pref. 
16,879,400 " " " " Com. 

1,333,300 General Rubber Co. C/S 

383,725 Wishawaka Woolen Mfg. Co. Trust Certs. 

316,175 " " ■« Stock Certs. 

1,333,400 Canadian Consolidated Rubber Co. Pref. 
2,000,000 " " ..<< Com 

Also by the pledge of all additional shares of stock 
or obligations (except the General Rubber Co. 4^ 
Debentures or bonds issued to refund them ) of the 
above subsidiary companies hereafter acquired. 

Sinking Fund provides for the payment of $500,000 an- 
nually on 1 Nov. , beginning , to be used in re- 
tiring 1st coupon notes, 2d $5,000 Reg., and last 
$10,000 Reg. bonds. 

Subject to redemption on any interest date at 105 and 
interest on 21 days' notice. 



73 



Industrial 



United States Smelting, Refining & 
Mining Co. 

Three-Year Notes 5% 



Dated: 1 Aug., 1911 Due: 1 Aug., 1914 

Interest Due : Feb. & Aug. 1 
Amount Authorized: $4,000,000 
" Outstanding: 4,000,000 
Trustee: O. C. Bos. Form: C. 1,000 

Utah Company 

Five- Year Collateral Trust Notes 6% 



Dated: 1 Apr., 1912 Due: 1 Apr., 1917 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $10,000,000 
4 ' Outstand ing : 1 0,000,000 
Trustee: O. C. Bos. Form: C. r. 500, 1,000 

Wanamaker (John) Philadelphia 

1st Mortgage 5% 



Dated: 1 Oct., 1908 Due: 1 Oct., 1913 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $6,000,000 
" Outstanding: 6,000,000 
Trustee: L. T. & T. Phil. Form: R. 1,000 

Wanamaker (John) Philadelphia 

Ten -Year Mortgage Bonds b°/o 



Dated: 1 Apr. 1913 Due: 1 Apr. 1923 

Interest Due : Apr. & Oct. 1 
Amount Authorized: $10,000,000 
" Outstanding: 10,000,000 
Trustee : L. T. & T. Phil. Form : R. 1 ,000 



An obligation of the company, not specifically secured. 
The company now has no mortgage debt and covenants 

that while these notes are outstanding it will not 

create any. 



An obligation of the company, secured by deposit with 

the Trustee of : 

$252,000.00 par value Black Hawk Coal Co. C/S 
557,500.00 " Castle Valley Coal Co. 1st Ref. 6s 

2,379,149.50 " Castle Valley Coal Co. C/S 

1,473,374.00 " Consolidated Fuel Co. C/S 

Guaranteed as to principal and interest by the United 

States Smelting, Refining and Mining Co. 
Subject to redemption as a whole on 1 April, 1915, or 

any interest date thereafter at 101 and interest. 

The individual obligation of John Wanamaker, and the 
mortgage made by him individually, secured by a 
first mortgage on the Philadelphia store property 
and 1224 & 6 Market St. 

Provision was made to refund these bonds by bonds of 
the issue dated 1 April, 1913, and a large majority 
have already been refunded. 



The individual obligation of John Wanamaker, and the 
mortgage made by him individually, secured by a 
first mortgage on the Philadelphia store property 
and No. 1224 & 6 Market St. 

Provision is made under this issue for the refunding of 
the issue maturing 1 Oct., 1913, a large majority of 
which have already been exchanged. 



79 



Industrial 



Warwick Iron & Steel Co. 

Three-Year Notes 

Due 



1 J« 



6* 

1914 



Dated: 1 June, 1911 
Interest Due : June & Dec. 1 
Amount Authorized: $300,000 
" Outstanding: 300,000 
Trustee: R.E.T.I.&T. Phil. Form: C. 1,000 

Westinghouse Electric & Mfg. Co. 

Three-Collateral Trust Notes 6 -": 



Dated: 1 Aug., 1910 
Interest Due: Feb. & Aug. 1 
Amount Authorized: $4,000,000 
»« Outstanding: 4,000,000 
Trustee: B. Form: C 1,000 



Doe: ! Aug., 1913 



Westinghouse Electric & Mfg. Co. 

Two-Year Notes 6 c \ 



Dated: 1 Aug., 1913 
Interest Due : Feb. & Aug. 1 
Amount Authorized: $3,250,000 
Outstanding: 3,250,000 
Trustee: B. Form: C. 1,000 



Due: 1 Aug., 1915 



An obligation of the company, not specifically secured 
The company covenants that it will not place any mort 

gage on its property while these notes are om 

standing. 
The company has been leased to the Eastern Steel Cc 

for 99 years, with an option to purchase it outright. 



An obligation of the company, secured by deposit wii 
the Trustee of : 

St.. 010. 000 Lackawanna ic Wyoming Valley Rapi 
Transit Co. 1st, Lien & Consol. 5s. 
>--: Rapids, Grand Haven 5c Muskego 
Ry. Co. 1st os. 
£07" V'O British Westiughcuse Electric cc Mfg. Cc 

4-~ Mtge. Debenture Stock. 
236.0 British Westinghouse Electric & Mfg. Cc 
4 cr c Preferred Stock. 
•SQ'-o i 10 Canadian Westinghouse Co. C S 
&05.O00 Westinghouse Electric & Mfg. Co. Com. 



The company covenants that aside frou 
R. T. bonds the market value of t 
posited will be maintained at $3,000, 

Subject to redemption on any interest 
interest z .us 2 -> per annum for the n 
to maturity, on 30 days' notice. 


Lthe L. & WW 
tie collateral d€ 

date at par an 

^expired perio 


An obligation of the company, secured 
the Trustee of : 

$2 59,000 Scran ton & Wilkesbarre 
59c Bonds 

1.Q1-.000 Scranton cc Wilkesbarre 

Pref. 
2. 0-2=5.50: Scranton 5c Wilkesbarre 


by deposit vrit 
Traction Cort 
Traction Cort 
Traction Corp 



Com 
£675.000 Hnush Westinghcuse Manufacturing •! 

Electric \^c Mtge. Deb. Stock. 
$165,500 Canadian Westinghouse Co.. Ltd.. Stock 
The agreement provides that the collateral must have 

market value of 150% of the notes outstanding. 
Subject to redemption on any interest date at par an 
interest, plus 2 -".- per annum to maturity, on 8. 'day; 
notice. 
These notes are to refund the issue maturing 1 Aug. , 191? 



So 



Industrial 



Westinghouse Electric & Mfg. Co. 

Ten- Year Collateral I^oan Notes 5< 



Dated: 1 Aug.. 1907 Due: 1 Oct. 1917 

Amount Authorized: $2,720,000 
" Outstanding: 2,720,000 
Trustee : B- Form : C. 1 .000 or £, Originally Issued 



in rrancs 



York Manufacturing Co. (of Pa. ) 

1st Mortgage 6% 



Dated: 1 May, 1911 

tw./ $50,000 Annually Series A to L 
ime -\ 1 Nov. 1912, to 1 Nov., 1923 

Interest Due : May & Nov. 1 

Amount Authorized: $750,000 

" Outstanding: 700,000 

Trustee: Gir. T., Phil. Form: C. r. 1,000 



An obligation of the company, secured by deposit with 
the Trustee of: 

$333,100 Canadian Westinghouse Co. Ltd. C/S 
69,000 Westinghouse El. & Mfg. Co. Con v. 5s. 
Fes. 7,137,500 Societe Anonyme Westinghouse 
Debentures. 
" 10,500,000 Societe Electrique Westinghouse de 
Russie Obligations Debentures. 
The company covenants to maintain the market value 
of the collateral deposited at 120 °Jo of the notes out- 
standing. 

An obligation of the company, secured by a first mort- 
gage on all the property of the company now owned 
or hereafter acquired. 

Subject to redemption on any interest date at 102^ and 
interest. 



Si 



Maturities 



July 




1— 


4,700,000 


Aug 




1— 


L5,000,000 


1— 


5,000,000 


1— 


50,000 


1— 


75,000 


1— 


1,000,000 


1— 


1,750,000 


1— 


1,000,000 


1— 


4,000,000 


15— 


60,000 



1913 



Atlanta, Birmingham & Atlanta 
Receiver's Certs. 5s 



Wab. R. R. 5% Receiver's Certs. 
Consolidated Gas Co. of N. Y. 5s 
Sierras Construction Co. 6s 
Western United Gas & El. Co. 6s 
Deere & Co. 5s 
Mitchell Lewis Motor Co. 6s 
Union Oil Co. of Calif. 6s 
Westinghouse Elec. & Mfg. Co. 6s 
Mobile & Ohio R. R. Term'l 5s 



Sept. 

1—10,000,000 Monetary Commis. of Mexico 4 x / 2 s 

1 — 50,000 Sierras Construction Co. 6s 

1— 400,000 Studebaker Corp. 5s 



Sec. Ave. R. R. 6% Rec.'s Certs. 
Sierras Construction Co. 6s 
American Locomotive Co. 5s 
Denver Realty Co. 5^s 
Indian Refining Co. 6s 
Wanamaker tjohn) 5s 
Hudson Companies 6s 



Hocking Valley Ry. 4^s 
Memphis Union Station Co. 5s 
Wh'l'g & Lk. Erie 5% Rec.'s Certs. 
Hudson Companies 5s 
Northern Ohio Traction Co. 6s 
Sierras Construction Co. 6s 
Bishop Babcock Becker Co. 6s 
Cleveland Cliffs Iron Co. 6s 
Indian Refining Co. 7s 
York Mfg. Co. 6s 



Oct. 




1— 


3,140,000 


1— 


50,000 


1— 


2,000,000 


1— 


750,000 


1— 


200,000 


1— 


6,000,000 


15— 


8,000,000 


Nov 




1— 


4,000,000 


1— 


2,100,000 


1— 


4,190,000 


1— 


1,400,000 


1— 


100,000 


1— 


50,000 


1— 


200,000 


1— 


500,000 


1— 


500,000 


1— 


50,000 



Dec. 

L— 500,000 
L— 40,000,000 
200,000 
50,000 
3,000,000 
25,000 
100,000 
200,000 
1,817,000 



Jan. 

1— 3,000,000 
1— 1,960,000 
1— 50,000 
1— 90,000 
1— 300,000 

Feb. 

1— 2,500,000 
1—10,000,000 
1— 3,000,000 
1— 5,000,000 
1— 973,000 
1— 2,607,000 
1— 50,000 
1— 8,000,000 
1— 50,000 
1— 50,000 
1— 300,000 
2—27,000,000 
15— 60,000 
25—15,000,000 

Mar. 

1—12,000,000 

4,000,000 

—30,000,000 

433,000 

500,000 



1913 

Buffalo & Susquehanna R. R. 6s 
N. Y., N. H. & H. R. R. 5s 
New York, Ont. & West. Ry. 5s 
Sierras Construction Co. 6s 
Agricultural Credit Co. 5s 
Glidden Varnish Co. 6s 
Standard Oil Cloth Co. 6s 
Tennessee Copper Co. 6s 
Interborough-Metropolitan Co. 6s 

1914 

Western Maryland Ry. 6s 
Interborough-Metropolitan Co. 6s 
Sierras Construction Co. 6s 
Harlan & Hollingsworth Corp. 6s 
Texas Co. 6s 



At. Top. & Santa Fe Serial Deb. 4s 
Boston & Maine 5s 
Minneapolis & St. Louis R. R. 6s 
N. Y, N. H. & H. R. R. 4s 
Wabash Pitts. Term'l Rec.'s Certs. 
Hudson Companies 5s 
International Traction Co. 6s 
Puget Sound Trac, Lt. & P. Co. 5s 
Sierras Construction Co. 6s 
West. United Gas. & Elec. Co. 6s 
Porto-Rican Am. Tobacco Co. 5s 
State of New York 5s 
Mobile & Ohio R. R. Term'l Co. 5s 
Consolidated Gas Co. 6s 



Lake Shore & Mich. So. Ry. 4^s 
Michigan Central R. R. 4^s 
N. Y. Cent. & Hud. R. R. R. 4^s 
Wab. Pitts. Tl. R. Rec.'s Certs. 6% 
Federal Light & Traction Co. 5s 



83 



Maturities 



Mar. 

1— 3,500,000 
1— 50,000 
1— 500,000 
1— 400,000 

15— 375,000 

Apr. 

1— 200,000 
1— 2,000,000 
1— 2,500,000 
1— 600.000 
1— 650,000 
1— 500,000 
1— 50,000 
1— 1,000,000 
1— 200,000 
1— 50,000 
1— 1,000,000 
21—20,000,000 
23— 605,000 

May 

750,000 

- 1,494,000 
10,000,000 
15,000,000 

- 1,000,000 

— 2,500,000 

— 1,400,000 

— 5,000,000 

— 150,000 

— 50,000 

— 200,000 

— 2,000,000 

— 500,000 

— 1,000,000 

— 250,000 

— 400,000 
15— 2,000,000 



1914 

Gas Securities Co. 6s 
Sierras Construction Co. 6s 
Ayer Mills 4^s 
Studebaker Corp. 5s 
American Rolling Mill Co. 5s 



Gulf & Ship Island R. R. 6s 
Maine Central R. R. 4s 
Denver Gas & Electric Co. 6s 
Galveston-Houston Electric Co. 6s 
Montgomery Lt. & Traction Co. 6s 
Richm'd (Ind.) I,., H., & P. Co. 6s 
Sierras Construction Co. 6s 
Gas Traction Co. 6s 
Indian Refining Co. 6s 
Peerless Motor Car Co. 6s 
Pope Manufacturing Co. 6s 
M. Y. Cent. & H. R. R. R. 5s 
Pere Marquette R. R. Rec.'s Certs. 



Ann Arbor R. R. 6s 
Chi., R. I. & Pac. Ry. 4s 
Lake Shore & Mich. So. Ry. 
N. Y. Cent. & H. R. R. R. V/ 2 s 
Northern Texas Electric Co. 5s 
Pacific Lt. & Power Corp. 6s 
Philadelphia Co. 5s 
Portland Ry., Lt. & Power Co. 5s 
Public Utilities Corp. 6s 
Sierras Construction Co. 6s 
Bishop-Babcock Becker Co. 6s 
Cambria Steel Co. 5s 
Cleveland Cliffs Iron Co. 6s 
Fifth Ave. Building Co. 6s 
Indian Refining Co. 7s 
Union Oil Co. of Cal. 6s 
N. Y. Cent. & H. R. R. R. 



1914 

June 

1—17,000,000 Boston & Maine R. R. 6s 

1—25,000,000 Chesapeake & Ohio 4^s 

1— 2,000,000 Connecticut River R. R. 5s 

1—24,976,000 Missouri Pacific Ry. 5s 

1— 200,000 New York, Ont. & West. Ry. 5s 

1— 2,500,000 Pitts. & Shawmut R. R. 6s 

1— 525,000 Pitts., Shawmut & N. Rec.'s Certs. 

1— 989,000 Wab. Pitts. Tr. R. Rec.'s 6% Certs. 

1— 714,000 W. Sd. Belt R. R. Rec.'s 6% Certs. 

1— 600,000 Columbus Ry. & Lt. 5s 

1 — 50,000 Sierras Construction Co. 6s 

1— 500,000 Standard Gas & Electric Co. 6s 

1— 1,972,500 Braden Copper Mines Co. 7s 

1— 25,000 Glidden Varnish Co. 6s 

1— 100,000 Iroquois Iron Co. 6s 

1— 3,060,000 Nipe Bay Co. 6s 

1— 160,000 United Fruit Co. 5s 

1— 300,000 Warwick Iron & Steel Co. 6s 

15—20,000,000 Southern Pacific Co. 5s 

July 

1 — 12,500,000 Austrian Government 4^s 

1— 9,200,000 State of Tennessee 5s 

1—20,000,000 Bait. & Ohio 5s 

1— 4,000,000 Chicago & E. 111. Rec.'s Certs. 6s 

1—15,000,000 111. Central R. R. Co. 4^s 

1— 2,500,000 Kan. City, Mex. & Or. R. Certs. 5s 

1—30,000,000 Chicago Elevated Rys. 5s 

1— 1,009,000 Columbus Electric Co. 5s 

1 — 50,000 Sierras Construction Co. 6s 

1_ 500,000 Southern Utilities Co. 6s 

1— 1,500,000 Lehigh Coal & Navigation Co. 5s 

1— 2,500,000 Sealshipt Oyster System 5s 

9 — 10,000,000 Northern Pacific 6s 

15— 3,500,000 Canadian Northern Ry. 6s 

15_ 80,000 United Railways & Electric c 
Baltimore 5s 



84 



Maturities 



1914 

Aug. 

1—12,500,000 Erie R. R. 6s 

1—11,000,000 International & Gt. North. Ry. 5s 

1— 50,000 Western United Gas & Electric 6s 

1— 1,000,000 Deere & Co. 5s 

1_ 4,000,000 U. S. Smelting, Rfg. & Mining 5s 

15— 60,000 Mobile & Ohio R. R. Term'l 5s 



Sept. 

1— 2,600,000 St. Louis & San Fran. R. R. 6s 

1— 400,000 Studebaker Corp. 5s 

15— 375,000 American Rolling Mill Co. 5s 



Oct. 
1— 4,550,000 
1— 1,600,000 
1— 1,500,000 
1— 2,000,000 
1— 200,000 



Nov. 

1— 100,000 

1— 200,000 

1— 500,000 

1— 2,500,000 

1— 300,000 

1— 450,000 

1— 50,000 



Erie R. R. 5s 
Pan American Co. 6s 
American Gas Co., 6s 
American Locomotive Co. 5s 
Indian Refining Co. 6s 



Northern Ohio Traction Co. 6s 
Bishop-Babcock-Becker Co. 6s 
Cleveland-Cliffs Iron Co. 6s 
Federal Sugar Refining Co. 5s 
Indian Refining Co. 7s 
Union Oil Co. of Cal. 6s 
York Mfg. Co. 6s 



20— 500,000 Appalachian Power Co. 6s 



Dec. 

— 200,000 

— 2,150,000 

— 1,800,000 

— 50,000 



New York, Ont. & Western Ry. 5s 
United Light & Power Co. 6s 
Agricultural Credit Co. 5s 
Empire Steel & Iron Co. 6s 



— 25,000 Glidden Varnish Co. 6s 



1914 

Dec. 
1— 100,000 Standard Oil Cloth Co. 6s 
1— 200,000 Tennessee Copper Co. 6s 

1915 



Austrian Government 4^s 
Lar., Hahns Peak & Pac. Ry. 7s 
Montreal Tramways & Power 6s 
Harlan & Hollingsworth Corp. 6s 
Texas Co. 6s 
Laramie HahnsPeak & Pac. Ry. 7s 



International Traction Co. 6s 
Western United Gas & El. Co. 6s 
Porto-Rican Am. Tobacco Co. 5s 
Mobile & Ohio R. R. Term'l 5s 
International Harvester Co. 5s 



Amalgamated Copper Co. 5s 

Ayer Mills 4J^s 

Doe Run Lead Co. 6s 

Lackawanna Steel Co. 5s 

Rumely (M.) Co. 6s 

Studebaker Corp. 5s 

Am. Rolling Mill Co. 5s 



Erie R. R. 5s 
Gulf & Ship Island 6s 
Wheel'g & L. Erie 6% Rec's Certs. 
Conn. River Power Co. 6s 
Montreal Tram. & Power Co. 6s 
United Gas & Elec. Corp. 5s 
Indian Refining Co. 6s 
Peerless Motor Car Co. 6s 



Jan. 




1— 


12,500,000 


1— 


450,000 


1— 


1,350,000 


1— 


90,000 


1— 


300,000 


15— 


• 1,000,000 


Feb 




1— 


50,000 


1— 


50,000 


1— 


400,000 


is- 


60,000 


is— 


20,000,000 


Mar 




1— 


-12,500,000 


1— 


1,000,000 


1— 


1,800,000 


1— 


10,000,000 


1— 


10,000,000 


1— 


400,000 


15— 


375,000 


Apr 




1— 


10,000,000 


1— 


200,000 


1— 


431,000 


1— 


314,000 


1— 


5,000,000 


1— 


7,500,000 


1— 


200,000 


1— 


100,000 



85 



Maturities 







1915 






1915 


May 






Sept 






1— 


6,045,000 


(At., Birmingham & Atlantic^ 5s 
{At. & Birmingham Con. Co.) 


1—10,000,000 


Chi. & West Indiana Ry. Co. 5s 


1— 


1,494,000 


Chi., R. I. & Pac. Ry. 4s 


1— 


200,000 


Pitts., Shaw. & N. R. R. Rec.'s 6% 


1— 


1.9,000,000 


Missouri, Kans. & Texas Ry. 5s 






Certs. 


1— 


1,250,000 


Mo. & N. Ark. R. R. Rec.'s Certs. 5s 


1— 


350,000 


Gary & Interurban Ry. 6s 


1— 


3,100,000 


Mass. Electric Co. 5s 


1— 


375,000 


Am. Rolling Mill Co. 5s 


1— 


150,000 


Public Utilities Co. 6s 


1— 


400,000 


Studebaker Corp. 5s 


1— 


200,000 


Bishop-Babcock-Becker Co. 6s 








1— 


500,000 


Cleveland Cliffs Iron Co. 6s 








1— 


600,000 


Electric Boat Co. 6s 








1— 


300,000 


Indian Refining Co. 6s 


Oct. 






1— 


450,000 


Union Oil Co. of Cal. 6s 


1—86,827,000 
1—11,922,000 


Pennsylvania R. R. 3^s 
General Motors Co. 6s 


June 






1— 


200,000 


Indian Refining Co. 6s 


1— 


5,000,000 


Cumberland Corp. 5s 








1— 


29,160,000 


National Rys. of Mexico 6s 








1— 


200,000 


New York, Ont. & West. Ry. 5s 








1— 


500,000 


Standard Gas & Electric Co. 6s 








1— 


60,000 


Davis Sewing Machine Co. 6s 


Nov. 






1— 


25,000 


Glidden Varnish Co. 6s 


1— 


150,000 


Northern Ohio Traction Co. 6s 


1— 


100,000 


Iroquois Iron Co. 6s 


1— 


5,000,000 


American Cotton Oil Co. 4^s 


1— 


160,000 


United Fruit Co. 5s 


1— 


988,000 


Braden Copper Mines Co. 7s 








1— 


500,000 


Cleveland-Cliffs Iron Co. 6s 


July 






1— 


1,500,000 


Dominion Steel Corp. 5s 


1— 


10,000,000 


Western Maryland Ry. 5s 


1— 


450,000 


Union Oil Co. of Cal. 6s 


1— 


4,000,000 


Inter.-Met. Co. 6s 


1— 


50,000 


York Mfg. Co. 6s 


1— 


2,388,000 


Pacific Lt. & Power Corp. 6s 








1— 


1,250,000 


West. Va. Traction & El. Co. 5s 








1— 


1,600,000 


American Locomotive Co. 5s 








1— 


9,000,000 


General Rubber Co. 4J^s 


Dec. 












1— 


1,200,000 


Idaho & Wash. Northern R. R. 6s 


Aug 






1— 


200,000 


New York, Ont. & West. Ry. 5s 


1— 


1,500,000 


Pitts., Shaw. & N. R. R. 6% Rec.'s 
Certs. 


1— 


1,200,000 


Agricultural Credit Co. 5s 


1— 


50,000 


Western United Gas & Elec. 6s 


1— 


50,000 


Empire Steel & Iron Co. 6s 


1— 


1,000,000 


Deere & Co. 5s 


1— 


25,000 


Glidden Varnish Co. 6s 


1— 


3,250,000 


Westinsrhouse Elec. & Mfg. Co. 6s 


1— 


100,000 


Standard Oil Cloth Co. 6s 


15— 


60,000 


Mobile & Ohio R. R. Term'l 5s 


1— 


250,000 


Tennessee Copper Co. 6s 



86 



Maturities 







1916 








1916 


Jan. 








June 






1— 


2,000,000 


Dul., Rainy Lk. & Win. Ry. Co. 


5s 


1— : 


L3,973,000 


Delaware & Hudson Co. 4s 


1— 


4,510,000 


Mahoning & Shenango R. & Lt. 5s 


1— 


2,000,000 


Middle West Utilities Co. 6s 


1— 


2,600,000 


Republic Ry. & Light Co. 5s 




1— 


2,500,000 


New Orleans Ry. & Lt. Co. 6s 


1— 


90,000 


Harlan & Hollingsworth Corp. 


6s 


1— 


2,000,000 


Standard Gas & Electric Co. 6s 


1— 


300,000 


Texas Co. 6s 




1— 


60,000 


Davis Sewing Machine Co. 6s 


15— 


4,000,000 


Union Typewriter Co. 5s 




1— 
1— 


25,000 
100,000 


Glidden Varnish Co. 6s 
Iroquois Iron Co. 6s 


Feb. 








1— 


4,600,000 


Schwarzchild & Sulzberger Co. 6s 








1— 


4,700,000 


Sulzberger & Sons Co. 6s 


1— 


6,000,000 


Seaboard Air Line 5s 




1— 


150,000 


United Fruit Co. 5s 


1— 


5,000,000 


Southern Ry. 5s 










1— 


50,000 


International Traction Co. 6s 










1— 


50,000 


Western United Gas & El. 6s 




July 






15— 


60,000 


Mobile & Ohio R. R. Term'l 5s 




1— 
1— 


5,000,000 
500,000 


Kansas City Terminal Ry. 5s 
Eastern Texas Electric Co. 6s 


Mar 








1— 


2,500,000 


Public Service Corp. of No. 111. 6s 


1— 


450,000 


B'mingham & N'west. R. R. Co. 


6s 


1— 


2,000,000 


American Coal Products Co. 6s 


1— 


875,000 


Pitts., Shaw. & N. R. R. Rec/s 6% 


1— 


1,600,000 


American Locomotive Co. 5s 






Certs. 




1— 


1,900,000 


Inter. Cotton Mills Corp. 6s 


1— 


1,575,000 


Public Utilities Co. 6s 










1— 


1,500,000 


Union Ry., Gas & Elec. Co. 5s 










1— 


1,000,000 


American Bank Note Co. 5s 




Aug 






1— 


1,000,000 


Ayer Mills 4^s 




1— 


50,000 


Western United Gas & Elec Co. 6s 


1— 
1— 


1,116,000 
400,000 


General Asphalt Co. 5s 
Studebaker Corp. 5s 




1— 
15— 


1,000,000 
60,000 


Deere & Co. 5s 

Mobile & Ohio R. R. Terminal 5s 


Apr. 
1— 


200,000 


Gulf & Ship Island R. R. 6s 




Sept 
1— 


400,000 


Studebaker Corp. 5s 


1— 


332,000 


So. California Edison Co. 6s 










1— 


200,000 


Indian Refining Co. 6s 




Oct. 






1— 


100,000 


Peerless Motor Car Co. 6s 




1— 


200,000 


Indian Refining Co. 6s 


May 








Nov. 






1— 


250,000 


Alabama, Tennessee & No. Ry. 


6s 


1— 


5,326,000 


Pennsylvania Co. 3J^s 


1— 


1,494,000 


Chi., R. I. & Pa. Ry. 4s 




1— 


150,000 


Northern Ohio Traction Co. 6s 


1— 


150,000 


Public Utilities Corp. 6s 




1— 


450,000 


Union Oil Co. of Cal. 6s 


1— 


450,000 


Union Oil Co. of Cal. 6s 




1— 


50,000 


York Mfg. Co. 6s 



87 



Maturities 



Dec. 

1— 450,000 

1— 50,000 

1— 25,000 

1— 3,000,000 

1— 100,000 

1— 250.000 



Jan. 

1— 5,000,000 
1— 90,000 
1— 300,000 



1916 

Portland R. R. Co. 4^s 

Empire Steel & Iron Co. 6s 
Glidden Varnish Co. 6s 
Packard Motor Car Co. 5s 
Standard Oil Cloth Co. 6s 
Tennessee Copper Co. 6s 

1917 

Asso. Simmons Hdware. 5s 
Harlan & Hollingsworth Corp. 6s 
Texas Co. 6s 



Feb. 

1— 1,000,000 Dallas Electric Corp. 5s 

1 — 50,000 International Traction Co. 6s 

1— 50,000 West. United Gas & Elec. Co. 6s 

15— 60,000 Mobile & Ohio R. R. Term'l 5s 

Mar. 

1— 1,000,000 Ayer Mills 4^s 

1— 400,000 Studebaker Corp. 5s 



Apr. 

1— 2,500,000 
1— 300,000 
1— 100,000 
1—10,000,000 



Am. Railways Co. 5s 
Indian Refining Co. 6s 
Peerless Motor Car Co. 6s 
Utah Company 6s 



15 — 1,195,000 United States Gypsum Co. 6s 

May 

1— 1,915,000 Aroostook Construction Co. 5s 

1— 5,500,000 Carolina, Clinchneld & O. Ry. 5s 

1— 1,494,000 Chi., R. I. & Pa. Ry. 4s 

1— 5,000,000 Cities Service Co. 7s 

1— 450,000 Union Oil Co. of Cal. 6s 

1—12,000,000 United Fruit Co. 6s 



June 




1— 


8,829,000 


1— 


5,000,000 


1— 


60,000 


1— 


207,000 


1— 


25,000 


1— 


100,000 


1— 


3,500,000 


1— 


160,000 


July 




i— 


1,600,000 



1917 

Atch., Top. & Santa Fe, Convr. 5s 
Northern States Power Co. 6s 
Davis Sewing Machine Co. 6s 
General Electric Co. 5s 
Glidden Varnish Co. 6s 
Iroquois Iron Co. 6s 
Xipe Bay Co. 6s 
160,000 United Fruit Co. 5s 



American Locomotive Co. 6s 



Aug. 

1—12,000,000 Toledo, St. Louis & West. R. R. 4s 

1— 50,000 West. United Gas & Elec. 6s 

15— 60,000 Mobile & Ohio R. R. Term'l 5s 

Sept. 

1— 3,500,000 N'western Gas, Lt. & Coke Co. 5s 

1— 400,000 Studebaker Corp. 5s 

Oct. 

1— 300,000 Indian Refining Co. 6s 

1— 2,720,000 Westinghouse Elec. & Mfg. Co. 5s 



Nov. 




1— 


150,000 


1— 


450,000 


1— 


50,000 


Dec. 




1— 


75,000 


1— 


25,000 


1— 


100,000 


1 — 


300,000 



Northern Ohio Trac Co. 6s 
Union Oil Co. of Cal. 6s 

York Mfg. Co. 6s 



Empire Steel & Iron Co. 6s 
Glidden Varnish Co. 6s 
Standard Oil Cloth Co. 6s 
Tennessee Copper Co. 6s 



88 



Maturities 







1918 






1918 


Jan. 






Aug. 






1— 


90,000 


Harlan & Hollingsworth Corp. 6s 


1— 


1,500,000 


Hudson Companies 6s 


1— 


300,000 


Texas Co. 6s 


15— 


60,000 


Mobile & Ohio R. R. Term'l 5s 


Feb. 






Sept. 






1— 


50,000 


International Traction Co. 6s 


1— 


200,000 


Fresnillo Co. 6s 


1— 


6,000,000 


Toledo Trac, Lt. & Power Co. 6s 


1— 


400,000 


Studebaker Corp. 5s 


1— 


50,000 


West. United Gas & Electric 6s 








15— 


60,000 


Mobile & Ohio R. R. Term'l 5s 


Oct. 






Mar. 






1— 


300,000 


Indian Refining Co. 6s 


1— 


2,350,000 


Eastern Power & Light Co. 5s 


Nov. 






1— 


292,900 


Giroux Consolidated Mines Co. 6s 


1— 


150,000 


Northern Ohio Traction Co. 6s 


1— 


400,000 


Studebaker Corp 5s 


1— 


50,000 


York Mfg. Co. 6s 


Apr. 
1— 
1— 
1— 
1— 
1— 


200,000 

1,200,000 

9,588,000 

300,000 

100,000 


Gulf & Ship Island R. R. 6s 
United States Public Service 6s 
Cuban American Sugar Co. 6s 
Indian Refining Co. 6s 
Peerless Motor Car Co. 6s 


Dec. 
1— 
1— 
1— 
1— ] 


75,000 

25,000 

200,000 

18,000,000 


Empire Steel & Iron Co. 6s 
Glidden Varnish Co. 6s 
Standard Oil Cloth Co. 6s 
United States Rubber Co. 6s 


May 










1919 


1— 


1,494,000 


Chi., R. I. & Pac. Ry. 4s 


Jan. 






1— 


7,500,000 


Commonwealth Power & Lt. 6s 






1— 
1— 


4,000,000 
1,200,000 


Elkhorn Fuel Co., 5s 
Indian Refining Co. 7s 


1— 

1— 


1,500,000 
300,000 


Republic of San Domingo 6s 
Texas Co. 6s 


1— 


450,000 


Union Oil Co. of Cal. 6s 


Feb. 






June 
1— 






1— 


50,000 


International Traction Co. 6s 


3,000,000 


Chic, Mil. & St. Paul Ry. 5s 


is- 


60,000 


Mobile & Ohio R. R. Term'l 5s 


1— 


60,000 


Davis Sewing Machine Co. 6s 


is— 


1,865,000 


Calumet & Hecla Mining Co. 5s 


1— 


25,000 


Glidden Varnish Co. 6s 


18— 


4,134,000 


Calumet & Hecla Mining Co. 4s 


1— 


4,000,000 


International Cotton Mills 6s 








1— 


100,000 


Iroquois Iron Co. 6s 


Mar. 






1— 


160,000 


United Fruit Co. 5s 


1— 


400,000 


Studebaker Corp. 5s 



July 

1—40,000,000 Brooklyn Rapid Transit Co. 5s 
1— 7,500,000 Louisville Gas. & Elec. Co. 6s 



Apr. 
1— 
1— 



300,000 Indian Refining Co. 6s 
100,000 Peerless Motor Car Co. 6s 



89 



Maturities 



May 



1919 



1920 

Mar. 
1— 400,000 Studebaker Corp. 5s 



June 
1— 800,000 
1— 3,996,000 
1— 60,000 
1— 25,000 
1— 100,000 

July 
1— 2,000,000 
1—10,000,000 

Aug. 

1— 1,957,000 
15— 60,000 

Sept. 

1— 400,000 

Cct. 
1— 300,000 

Nov. 

1— 414,000 
1— 50,000 

Dec. 
1— 25,000 



Jan. 
1— 1,294,000 
1— 300,000 

Feb. 

1— 50,000 
15— 60,000 



Indian'ls New Castle & E. Trac. 6s 
Braden Copper Mines Co. 6s 
Davis Sewing Machine Co. 6s 
Glidden Varnish Co. 6s 
Iroquois Iron Co. 6s 



Carolina, Clinchfield & O. Ry. 5s 
American Cities Co. 5/6s 



Philadelphia Co. 5s 

Mobile & Ohio R. R. Term'l 5$ 



Studebaker Corp. 5s 



Indian Refining Co. 6s 



Shannon Arizona Ry. Co. 6s 
York Mfg. Co. 6s 



Glidden Varnish Co. 6s 

1920 

Seattle Lighting Co. 6s 
Texas Co. 6s 



International Traction Co. 6s 
Mobile & Ohio R. R. Term'l 5s 



Apr. 
1— 78,700 
1— 300,000 
1— 3,500,000 
1— 100,000 

May 



June 
1— 3,000,000 
1— 325,000 
1— 60,000 
1— 25,000 
1— 100,000 



Detroit Edison Co. 6s 
Indian Refining Co. 6s 
Otis Elevator Co. 5s 
Peerless Motor Car Co. 6s 



American Gas Co. 5s 
American Caramel Co. 6s 
Davis Sewing Machine Co. 6s 
Glidden Varnish Co. 6s 
Iroquois Iron Co. 6s 



July 
1— 2,163,000 Bingham & Garfield Ry. 6s 

Aug. 

15— 60,000 Mobile & Ohio R. R. Term'l 5s 

Sept. 
1— 400,000 Studebaker Corp. 5s 

Oct. 

1 — 300,000 Indian Refining Co. 6s 



Nov. 

1— 1,000,000 Scranton Ry. Co. 5s 

1— 50,000 York Mfg. Co. 6s 

Dec. 

1— 580,000 Westchester Lighting Co. 5s 

1— 25,000 Glidden Varnish Co. 6s 

15— 1,512,000 Diamond Match Co. 6s 



90 



Maturities 







1921 






1921 


Jan. 






Nov. 






1— 


2,991,000 


Ray Consolidated Copper Co. 6s 


1— 


50,000 


York Mfg. Co. 6s 


1— 


300,000 


Texas Co. 6s 


Dec. 






Feb. 






1— 


25,000 


Glidden Varnish Co. 6s 


1— 


127,200 


Detroit Edison Co. 6s 


1— 


3,000,000 


Lehigh Coal & Nav. Co. 4^s 


1— 


60,000 


International Traction Co. 6s 








15— 


60,000 


Mobile & Ohio K. R. Term'l 5s 


Jan. 




1922 


Mar. 












1— 


400,000 


Studebaker Corp. 5s 


Feb. 






Apr. 






1— 


50,000 


International Traction Co. 6s 


1— 


300,000 


Indian Refining Co. 6s 


1— 


649,000 


Kentucky Public Service Co. 6s 


1— 


100,000 


Peerless Motor Car Co. 6s 


Mar. 






May 






1— 


1,500,000 


Federal Light & Traction Co. 6s 








1— 


400,000 


Studebaker Corp. 5s 


June 






Apr. 






1— 


4,200,000 


Bus. R. E. Trust of Boston 4s 


1— 


500,000 


Public Utilities Corp. 6s 


1— 


60,000 


Davis Sewing Machine Co. 6s 


1— 


100,000 


Peerless Motor Car Co. 6s 


1— 


25,000 


Glidden Varnish Co. 6s 








1— 


100,000 


Iroquois Iron Co. 6s 


May 












1— 


9,S18,000 


Philadelphia Co. 5s 


July 












l— 


755,500 


Chino Copper Co. 6s 








l— 


268,500 


Durham Duplex Razor Co. 6s 


June 












1— 


5,451,000 


Central States Electric Co. 5s 


Aug. 






1— 


60,000 


Davis Sewing Machine Co. 6s 


1— 


2,200,000 


American Power & Light Co. 6s 


1— 


25,000 


Glidden Varnish Co. 6s 








1— 


1,340,000 


Locomobile Co. of America 6s 


Sept. 












1— 


400,000 


Studebaker Corp. 5s 


J^y 






Oct. 












1— 


300,000 


Indian Refining Co. 6s 


Aug. 






1— 


5,700,000 


Mexican Petroleum Co. 6s 


1— 


2,960,000 


Am. Pipe & Cons. Co. 6s 



9i 



Maturities 



1922 

Sept. 
1—17,975,000 Utah Securities Corp. 6s 

OcL 
1— 300,000 Oklahoma Gas & Electric Co. 6s 

Nov. 
1— 50,000 York Mfg. Co. 6s 

Dec. 
1— 25,000 Glidden Varnish Co. 6s 

1923 
Jan. 



Feb. 

1 — 50,000 International Traction Co. 6s 

1— 3.000,000 Atlas Powder Co. 6s 

1— 6.500. 0C0 Consolidation Coal Co. 6s 

1— 6,500.000 Hercules Powder Co. 6s 

Mar. 



Apr. 

1— 100,000 Peerless Motor Car Co. 6s 
1—10,000,000 Wanamaker (John) 5s 

Mav 



June 
1— 60,000 Davis Sewing Machine Co. 

July 
1—29,600,000 U. S. of Mexico 6s 



1923 



Aug. 
Sept. 
Oct. 



Nov. 
1— 50,000 York Mfg. Co. 6s 

Dec 



-2 



Other Publications 
By the 

Guaranty Trust Company of New York 



Equipment Obligations 

What Constitutes a Good Investment 

The Transfer Tax Law 

The Tax on Secured Debts 

Mr. Brown's Experience 

Amortization 









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